+
Adani Krishnapatnam Port: Remaining 25% acquisition gets CCI nod
PORTS & SHIPPING

Adani Krishnapatnam Port: Remaining 25% acquisition gets CCI nod

The Competition Commission of India (CCI) has approved the acquisition of an additional 25% shareholding of Adani Krishnapatnam Port by Adani Ports and Special Economic Zone (APSEZ).

As we have reported earlier, on April 5, Adani Ports declared the acquisition of the remaining 25% stake in Krishnapatnam Port from Vishwasamudra Holdings for a cash consideration of Rs 2,800 crore. Earlier, the company had already acquired 75% stake in the Adani Krishnapatnam Port.

Adani Ports, India's largest private multi-port operator, has over 11 ports in six maritime states of Goa, Andhra Pradesh, Kerala, Gujarat, Odisha and Tamil Nadu. After the approval given by CCI, Adani Ports would now have 100% shareholding in the organisation.

Adani Ports, a part of the Adani Group, is the most comprehensive commercial ports operator in India, valuing nearly one-fourth of the cargo movement in the nation. Adani Krishnapatnam is employed as a developer and operator of an all-weather, deepwater multi-purpose port at Krishnapatnam, Andhra Pradesh, under a build-operate-share-transfer authorisation from Andhra Pradesh.

On April 13, the CCI also allowed the acquisition of an 89.6% stake in Gangavaram Port Ltd (GPL) by Adani Ports. On March 23, Adani Ports told the media it would acquire a 58.1% stake owned by DVS Raju and family in GPL for Rs 3,604 crore.

The company also declared the purchase of a 31.5% stake owned by Windy Lakeside Investment, an associate of Warburg Pincus, in GPL for Rs 1,954 crore. Collectively, both the transactions would increase the Adani Ports' stake in GPL to 89.6%.

In this month, APSEZ reported a 33% year-on-year jump in consolidated net profit at Rs 5,049 crore for the financial year 2020-21. Accompanied by an 11% rise in cargo to 247 million metric tonne (mmt) during FY21, operating income grew 6% to Rs 12,550 crore.

Image Source


Also read: Adani Ports now owns 100% of Krishnapatnam Port Limited

Also read: Adani Ports reports 285% y-o-y surge at Rs 1,288 cr in Q4

The Competition Commission of India (CCI) has approved the acquisition of an additional 25% shareholding of Adani Krishnapatnam Port by Adani Ports and Special Economic Zone (APSEZ). As we have reported earlier, on April 5, Adani Ports declared the acquisition of the remaining 25% stake in Krishnapatnam Port from Vishwasamudra Holdings for a cash consideration of Rs 2,800 crore. Earlier, the company had already acquired 75% stake in the Adani Krishnapatnam Port. Adani Ports, India's largest private multi-port operator, has over 11 ports in six maritime states of Goa, Andhra Pradesh, Kerala, Gujarat, Odisha and Tamil Nadu. After the approval given by CCI, Adani Ports would now have 100% shareholding in the organisation. Adani Ports, a part of the Adani Group, is the most comprehensive commercial ports operator in India, valuing nearly one-fourth of the cargo movement in the nation. Adani Krishnapatnam is employed as a developer and operator of an all-weather, deepwater multi-purpose port at Krishnapatnam, Andhra Pradesh, under a build-operate-share-transfer authorisation from Andhra Pradesh. On April 13, the CCI also allowed the acquisition of an 89.6% stake in Gangavaram Port Ltd (GPL) by Adani Ports. On March 23, Adani Ports told the media it would acquire a 58.1% stake owned by DVS Raju and family in GPL for Rs 3,604 crore. The company also declared the purchase of a 31.5% stake owned by Windy Lakeside Investment, an associate of Warburg Pincus, in GPL for Rs 1,954 crore. Collectively, both the transactions would increase the Adani Ports' stake in GPL to 89.6%. In this month, APSEZ reported a 33% year-on-year jump in consolidated net profit at Rs 5,049 crore for the financial year 2020-21. Accompanied by an 11% rise in cargo to 247 million metric tonne (mmt) during FY21, operating income grew 6% to Rs 12,550 crore. Image Source Also read: Adani Ports now owns 100% of Krishnapatnam Port Limited Also read: Adani Ports reports 285% y-o-y surge at Rs 1,288 cr in Q4

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?