Adani to acquire 58% stake in Gangavaram port

24 Mar 2021 Editorial Team

Adani Ports and Special Economic Zone (APSEZ) is set to acquire a 58% stake in Vishakapatnam's Gangavaram Port Ltd (GPL) for Rs 3,604 crore.

Adani Ports had announced on March 3 the acquisition of Warburg Pincus's 31.5% stake in GPL, and together with this acquisition, APSEZ would have an 89.6% stake in GPL.

The company informed the media that it had signed an agreement on 23 March 2021, with the DVS Raju and Family to acquire a 58.1% stake in GPL.

The acquisition is in line with the company's strategy of East Coast to West Coast parity and will provide access to growth from new hinterland markets as it has coverage in resource-rich and industrial belt in eastern, central and southern India, Adani Ports added.

Adani Ports added further that the acquisition is expected to be completed within six months.

GPL is located near Visakhapatnam port, and is the second-largest, non-major port in Andhra Pradesh, with a 64 million metric tonne (mmt) capacity established under a concession from the Government of Andhra Pradesh (GoAP) that extends till 2059.

It is an all-weather, deep water, multipurpose port capable of handling fully laden super cape size vessels of up to 200,000 DWT. Currently, GPL operates nine berths and has freehold land of 1,800 acres. The port, floated by Chairman and Managing Director DVS Raju, is engaged in the business of handling various types of dry bulk and break bulk cargo.

Image Source

Also read: Three new ports in Andhra to help boost maritime trade

Also read: Adani Ports market cap crosses Rs 1 trillion mark

Also read: APSEZ acquires 75 per cent stake in KPCL

Real Estate

04 Aug 2026

LML Realty Launches Cinema Campaign on Industrial Vision

LML Realty has launched a cinema advertising campaign in partnership with PVR INOX across 81 screens in Gurugram and Faridabad, showcasing the brand’s transformation from a mobility icon to an industrial infrastructure developer.The campaign features a cinematic brand film tracing LML’s journey since 1972, beginning with its iconic scooters and highlighting its evolution into creating infrastructure solutions that support India’s manufacturing growth.The film focuses on LML Industrial Park at Jhirka Valley, the company’s flagship industrial development approved under the Haryana Govern..

IIM Ahmedabad Publishes Case Study on HoABL’s Business Model

The Indian Institute of Management Ahmedabad (IIMA) has published a case study on The House of Abhinandan Lodha (HoABL), examining the company’s digital-first consumer journey and business model that created India’s branded land category.Titled “HoABL: Ready for Scaling Up”, the case study has been published by the IIMA Case Centre and co-authored by Sourav Borah, Associate Professor of Marketing at IIMA, and Dr Aparna Kansal of IMT Ghaziabad. IIMA case studies are used across management and executive education programmes to help students and business leaders analyse strategic decision..

Advait Energy and MEIL Partner for Energy Transition Projects

Advait Energy Transitions Limited (AETL) and Manipal Energy Infratech Limited (MEIL), a company of The Manipal Group, have entered into a strategic Memorandum of Understanding (MoU) to collaborate on power and energy transition opportunities across India and international markets.The partnership aims to combine AETL’s expertise in innovative energy technologies and manufacturing with MEIL’s EPC execution capabilities and project management experience. The collaboration will focus on opportunities across Power Transmission & Distribution, Renewable Energy, Battery Energy Storage Systems..