Adani Ports to buy 95% of Odisha's Gopalpur Port for $162 million: What we know so far on the deal
8 months, 4 weeks ago

Adani Ports to buy 95% of Odisha's Gopalpur Port for $162 million: What we know so far on the deal

Hindustan Times  

Adani Ports said that it will buy a 95% stake in Odisha's Gopalpur Port for an equity value of 13.49 billion rupees. As per the deal- whose enterprise value is ₹30.80 billion, Adani Ports will purchase a 56% stake in Gopalpur Port from real-estate conglomerate Shapoorji Pallonji Group and a 39% stake from Orissa Stevedores. Karan Adani, managing director at Adani Ports, said, “GPL will add to the Adani Group's pan-India port network, east coast vs west coast cargo volume parity and strengthen APSEZ's integrated logistics approach.” The port handles dry bulk cargo, including iron ore, coal, limestone, ilmenite, and alumina. Shapoorji Pallonji Group announced the sale of Gopalpur Port to Adani Ports and SEZ Ltd marking the second port divestment in the last few months from the real estate conglomerate which had earlier sold its Dharamtar Port to JSW Infrastructure Limited for ₹710 crore.

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History of this topic

Adani Drops US Funding Plans For Colombo Port Project
1 week, 5 days ago

Adani Drops US Funding Plans For Colombo Port Project

ABP News  

Billionaire Gautam Adani-led conglomerate on Tuesday said it will use its own resources to fund a Sri Lankan port project and not seek US funding. The US International Development Finance Corp, in November last year, agreed to provide a USD 553 million loan to support the development, construction, and operation of a deep-water container terminal called the Colombo West International …

Adani opts out of US funding for its Colombo Port project
1 week, 5 days ago

Adani opts out of US funding for its Colombo Port project

Deccan Chronicle  

New Delhi: Billionaire Gautam Adani-led conglomerate on Tuesday said it will use its own resources to fund a Sri Lankan port project and not seek US funding. The US International Development Finance Corp, in November last year, agreed to provide a USD 553 million loan to support the development, construction, and operation of a deep-water container terminal called the Colombo …

Adani Ports shares to be in spotlight today. Here's why
Trending News
1 week, 6 days ago

Adani Ports shares to be in spotlight today. Here's why

India Today  

Shares of Adani Ports & Special Economic Zone Ltd are likely to be in the spotlight in Wednesday’s trading session after the company announced it would not seek funding from the US International Development Finance Corporation for a Sri Lankan port project. In a filing with the stock exchanges, Adani Ports shared that the Colombo West International Terminal project in …

Why Adani Ports decided to opt out of $553 million US loan for Sri Lanka terminal
1 week, 6 days ago

Why Adani Ports decided to opt out of $553 million US loan for Sri Lanka terminal

India Today  

Adani Ports and Special Economic Zone Ltd announced its decision to cancel a $553 million loan from the US International Development Finance Corporation for the Colombo West International Terminal project in Sri Lanka. The project is part of a consortium involving Adani Ports, John Keells Holdings Plc, and the Sri Lanka Ports Authority. The DFC requested amendments to the agreement …

Is Adani Ports stock at Rs 1,960? Here's what brokerages say
3 weeks, 1 day ago

Is Adani Ports stock at Rs 1,960? Here's what brokerages say

India Today  

Shares of Adani Ports and Special Economic Zone have been in focus over the past few sessions, with analysts projecting a strong growth outlook despite recent challenges. Kotak Institutional Equities has a fair value of Rs 1,630, while Motilal Oswal Financial Services has pegged it at Rs 1,530, both maintaining their ‘Buy’ ratings. Operating cash flow is expected to grow …

Kerala, Adani Ports sign supplementary agreement to enhance Vizhinjam Seaport development
3 weeks, 4 days ago

Kerala, Adani Ports sign supplementary agreement to enhance Vizhinjam Seaport development

Deccan Chronicle  

Thiruvananthapuram: Kerala Chief Minister Pinarayi Vijayan on Thursday announced the signing of a supplementary concession agreement between the state government and Adani Vizhinjam Port Private Limited, ensuring the future development of the international seaport, the first phase of which is now slated for commissioning next month. As the 2nd & 3rd phases near completion by 2028, an investment of?10,000 crore …

No money given to Adani so far for Sri Lankan port project, says US development agency
3 weeks, 6 days ago

No money given to Adani so far for Sri Lankan port project, says US development agency

Live Mint  

Mumbai: The US International Development Finance Corporation, which last year committed a half-a-billion-dollar loan to the Adani group for developing a port in Sri Lanka, has not yet disbursed any money to the Indian conglomerate. Incidentally, GQG Partners informed its investors last week that it had built up positions in Adani group companies as new data emerged, including the DFC’s …

Adani's Sri Lanka port project under US scrutiny amid bribery allegations
4 weeks, 1 day ago

Adani's Sri Lanka port project under US scrutiny amid bribery allegations

India Today  

A US agency said on Sunday that it is reviewing the impact of Department of Justice bribery allegations against the founder of India's Adani Group on the agency's prior agreement to lend more than USD 550 million to a Sri Lankan port development backed by the group. The US International Development Finance Corporation last November said it would provide USD …

Shares in India’s Adani Group plunge 20% after US bribery, fraud indictments
1 month ago

Shares in India’s Adani Group plunge 20% after US bribery, fraud indictments

Associated Press  

NEW DELHI — One of Asia’s richest men, Indian tycoon Gautam Adani, is again in the spotlight. India’s main opposition also demanded a parliamentary committee probe into Adani Group dealings, which Jairam Ramesh, a leader of the Congress Party, said are causing “growing monopolization in key sectors of the Indian economy, fueling inflation, and posing huge foreign policy challenges as …

Adani Ports Q2 results: A strong rebound but a mixed performance
Trending News
1 month, 3 weeks ago

Adani Ports Q2 results: A strong rebound but a mixed performance

Live Mint  

Adani Ports and Special Economic Zone reported strong financial results for the second quarter of financial year 2024, with a net profit of ₹2,412.54 crore, up 37% year-over-year. However, its total income declined over 22% from ₹7,372.37 crore to ₹6,951.86 crore. Despite the decline, the company's net profit for the first half of the financial year 2024-25 was higher at …

Congress questions ‘concessions’ given to Adani Ports in Gujarat
2 months, 4 weeks ago

Congress questions ‘concessions’ given to Adani Ports in Gujarat

The Hindu  

The Congress on Wednesday raised the issue of “concessions” being granted to Adani Ports so that it can gain “control” over the Mundhra, Hazira and Dahej ports in Gujarat for 75 years on a Build-Operate-Own-Transfer basis. He also referred to his remarks in August, in which he had alleged that the Gujarat government was helping Adani Ports to “secure a …

Adani’s resurgence: A $5-7 bn war chest for cement, ports, defence acquisitions
3 months ago

Adani’s resurgence: A $5-7 bn war chest for cement, ports, defence acquisitions

Live Mint  

The Adani group has created a war chest of $5-7 billion for acquisitions over the next six months, reviving an aggressive growth strategy that had defined the airports-to-electricity conglomerate before US-based short-seller Hindenburg Research hit it with its alarming allegations. Two people directly aware of the Adani group’s plans said the conglomerate plans to acquire companies primarily in cement, airports, …

Adani Ports registers 47% profit growth, 21% revenue in April-June quarter
4 months, 3 weeks ago

Adani Ports registers 47% profit growth, 21% revenue in April-June quarter

Hindustan Times  

Adani Ports and Special Economic Zone on Thursday reported that its net profit or profit after tax jumped 47 per cent year-on-year during the April-June quarter to ₹3,107 crore, its earnings results showed. A general view of a container terminal is seen at Mundra Port, one of the ports handled by India's Adani Ports and Special Economic Zone Ltd, During …

Adani Ports share price 2% lower, ₹913-crore equities change hands: What's happening
8 months, 2 weeks ago

Adani Ports share price 2% lower, ₹913-crore equities change hands: What's happening

Hindustan Times  

Adani Ports share price: Shares of Adani Ports fell 2 per cent today. Adani Ports share price: A general view of a container terminal is seen at Mundra Port, one of the ports handled by Adani Ports and Special Economic Zone Ltd. Adani Ports monthly updates This comes after Adani Ports released its monthly updates reporting its highest-ever monthly cargo …

Adani Ports acquires Gopalpur Port in Odisha for Rs 3,080 crore from SP Group
8 months, 4 weeks ago

Adani Ports acquires Gopalpur Port in Odisha for Rs 3,080 crore from SP Group

India TV News  

Ahmedabad: Adani Ports and Special Economic Zone Ltd, India’s largest ports and logistics company, on Tuesday, announced that it has entered into a definitive agreement to purchase the 56 per cent stake of the SP Group and 39 per cent of Orissa Stevedores Limited in Gopalpur Port Limited. Gopalpur Port is well connected "As a deep draft, multi-cargo port, Gopalpur …

SP Group sells Gopalpur Port to Adani Ports at enterprise value of Rs 3,350 crore
8 months, 4 weeks ago

SP Group sells Gopalpur Port to Adani Ports at enterprise value of Rs 3,350 crore

New Indian Express  

NEW DELHI: The Shapoorji Pallonji Group on Tuesday announced the sale of its brownfield Gopalpur Port to Adani Ports and SEZ Ltd for an enterprise value of Rs 3,350 crore, as part of its deleveraging strategy with planned asset monetisation. The sale of the Gopalpur Port is the second port divestment in the last few months from the SP Group, …

Adani Group to invest ₹12,400 crore in Telangana in the coming years
11 months ago

Adani Group to invest ₹12,400 crore in Telangana in the coming years

The Hindu  

Adani Group headed by its chairman Gautam Adani has announced investments to the tune of ₹12,400 crore in Telangana in the next few years. The Group’s company Adani Green Energy will invest ₹5,000 crore for setting up two pumped storage projects of 1,350 MW capacity and another firm AdaniConneX Data Centres has announced investment of an equal amount for setting …

Adani Ports share surge over 5 per cent as company returns to bond market after two years hiatus
11 months, 2 weeks ago

Adani Ports share surge over 5 per cent as company returns to bond market after two years hiatus

India TV News  

Adani Ports and Special Economic Zone shares rose 5.22 per cent in early trade on Tuesday to hit a 52-week high of Rs 1,229.90 after the company said on Monday that it plans to enter the bond market after a two-year hiatus. At the concluding session of the event, organised by the ruling DMK government, formal agreements were inked between …

Adani Group keen on investing in Telangana
11 months, 2 weeks ago

Adani Group keen on investing in Telangana

The Hindu  

The Adani Group has evinced keenness in investing in the State. Adani Ports & Special Economic Zone CEO and Group Head Gautam Adani’s son Karan Adani said the Group was prepared to make investments in Telangana. Mr. Karan Adani assured that the ongoing projects in the State would continue and requested the government’s support for the new projects proposed by …

Adani Ports board approves raising up to ₹5,000 crore
11 months, 2 weeks ago

Adani Ports board approves raising up to ₹5,000 crore

Live Mint  

Adani Ports and Special Economic Zone Limited, on January 3, announced that its board of directors had granted approval for the mobilization of funds, with a cap of ₹5,000 crore, through a public issuance of non-convertible debentures. “We wish to inform you that the board of directors of Adani Ports and Special Economic Zone Limited has at its meeting held …

Adani Group to invest Rs 8700 crores in JDU-RJD-ruled Bihar across sectors
1 year ago

Adani Group to invest Rs 8700 crores in JDU-RJD-ruled Bihar across sectors

Op India  

On Thursday, the Adani Group announced a significant commitment to amplify its investments in Bihar, aiming to increase the conglomerate’s financial commitment to the state tenfold. Pranav Adani, Managing Director of Adani Enterprises, shared during the Bihar Business Connect 2023 event that the group plans to boost its current investment in the state from Rs 850 crore to a substantial …

Adani Group eyeing opportunities in neighbouring countries, says Karan Adani
1 year, 1 month ago

Adani Group eyeing opportunities in neighbouring countries, says Karan Adani

Live Mint  

Days after announcing a significant $553 million investment from the United States government for its West Container Terminal in Colombo, Sri Lanka, Karan Adani, CEO of Adani Group told reporters Adani Ports is eyeing further “opportunities in our neighboring countries", Bloomberg reported. The investment is not only a strategic move for the Adani Group but also signals Washington's endorsement of …

Adani’s Sri Lanka port terminal project to get funding from U.S. government
1 year, 1 month ago

Adani’s Sri Lanka port terminal project to get funding from U.S. government

The Hindu  

November 08, 2023 03:39 pm | Updated 07:34 pm IST - COLOMBO The U.S. International Development Finance Corporation has announced a $553 million investment in the Adani Ports-led container terminal project in Colombo, less than a year after American financial research firm Hindenburg accused the Adani Group of pulling the “largest con in corporate history”. Addressing a media conference in …

Adani Ports share price rises 3% as brokerages expect up to 28% upside potential
1 year, 2 months ago

Adani Ports share price rises 3% as brokerages expect up to 28% upside potential

Live Mint  

Adani Ports & Special Economic Zone Ltd share price rebounded over 3% on Tuesday's session after tumbling by almost 5% on Monday due to concerns about conflict in Israel, where the company owns a key port. Adani Ports share price opened at an intraday low of ₹799.95 apiece on BSE. Analysts indicated that even in the worst case, the impact …

Adani Ports, Adani Ent share price gain over 2-3%; Here’s why
1 year, 5 months ago

Adani Ports, Adani Ent share price gain over 2-3%; Here’s why

Live Mint  

Adani Group stocks gained around 2% to 3% each on Monday, with Adani Enterprises share price rallying over 3%. The Adani Group on July 15 announced the commissioning of India’s first transnational project at Godda in Jharkhand to supply power to the Bangladesh electricity grid. Gautam Adani, Chairman of Adani Group, called on Bangladesh Prime Minister Sheikh Hasina in Dhaka …

Adani Ports, Special Economic Zone sells Myanmar Port for USD 30 million
1 year, 7 months ago

Adani Ports, Special Economic Zone sells Myanmar Port for USD 30 million

India TV News  

Ahmedabad: Adani Ports and Special Economic Zone Ltd on Thursday said that it has concluded the Myanmar Port sale for a total consideration of USD 30 million. Commenting on the occasion, Karan Adani, CEO and Whole-time Director, APSEZ stated “This exit is in line with the guidance provided by the APSEZ Board based on the recommendations made by the Risk …

These 2 brokerages have a ‘buy’ on Adani Ports; here’s why they see a 35% upside
1 year, 9 months ago

These 2 brokerages have a ‘buy’ on Adani Ports; here’s why they see a 35% upside

Live Mint  

JM Financial has initiated coverage on Adani Ports with a ‘buy’ rating and a target price of ₹800 - about 35% jump from the current market price of ₹591. Adani Ports and SEZ, which has 13 ports across India with >600 million tonnes total capacity, has demonstrated its ability to successfully construct /acquire assets in India and create significant value …

Adani Ports to repay $605 million debt to improve corporate governance
1 year, 10 months ago

Adani Ports to repay $605 million debt to improve corporate governance

Live Mint  

Adani Ports & Special Economic Zone Ltd. will repay a debt of around 50 billion rupees as tycoon Gautam Adani takes steps to improve a leverage metric and corporate governance at his firms following a short seller attack that has put its financial health under scrutiny. ‘Ease Concerns’ The Adani Ports guidance “could ease concerns around the firm’s liquidity and …

As Adani shares tank further, here’s look at what is at stake
1 year, 10 months ago

As Adani shares tank further, here’s look at what is at stake

Live Mint  

The Adani group lost over ₹9 trillion crore in market value since Hindenburg Research brought fraud charges against the Indian conglomerate. Here are the list of Adani Group's key projects: Mundra Port expansion phase 3 project 57,594 Godda coal-based thermal power SEZ project 14,820 Maharashtra pumped storage project for green power 60,000 Kashipur aluminium refinery and captive power plant project …

Adani Ent pulls FPO in surprise U-turn
1 year, 10 months ago

Adani Ent pulls FPO in surprise U-turn

Live Mint  

The board of Adani Enterprises Ltd scrapped its ₹20,000 crore follow-on public offering, citing investor protection concerns, as a massive selloff in Adani group stocks continued for a fifth day after a scathing report alleging accounting fraud and stock manipulation was released by a US short seller. A day after some family offices were said to have helped salvage the …

Indian billionaire Adani at center of $68B stock market rout
1 year, 10 months ago

Indian billionaire Adani at center of $68B stock market rout

Associated Press  

NEW DELHI — Asia’s richest man, Gautam Adani, saw his companies shed $68 billion in market value after short-selling firm Hindenburg Research accused him of “pulling the largest con in corporate history,” triggering a massive sell-off of Adani stocks. It has expanded to Australia and Indonesia and, according to Adani Power’s website, is on track to be “one of the …

Adani Ports, Ambuja Cements deny share buyback plan
1 year, 10 months ago

Adani Ports, Ambuja Cements deny share buyback plan

Live Mint  

Adani group companies — Adani Ports and Special Economic Zone Ltd and Ambuja Cements have denied media reports that companies are planning ₹3,000 crore buyback of shares. Replying to the clarification sought by exchanges, both Adani group companies said, "We would like to clarify that there is no such plan and hence, we are not in a position to comment …

Billionaire Gautam Adani loses over ₹48,000 cr in a day post Hindenburg report
1 year, 10 months ago

Billionaire Gautam Adani loses over ₹48,000 cr in a day post Hindenburg report

Live Mint  

India and Asia's richest Gautam Adani's net worth plunged significantly in just a day after a sharp fall in bonds and stocks of the seven listed Adani group companies that fell between 3% and 7% yesterday as Hindenburg, a well-known US short-seller, said key listed companies in the group controlled by billionaire Gautam Adani had substantial debt, which has put …

Adanis get Letter of Intent for Tajpur port in West Bengal
2 years, 2 months ago

Adanis get Letter of Intent for Tajpur port in West Bengal

Deccan Chronicle  

Kolkata: The Mamata Banerjee government on Wednesday handed over the Letter of Intent to Adani Group for the development of Tajpur Port at an investment of ₹25,000 crores in East Midnapore of West Bengal. Adani Group owner Gautam Adani's son Karan Adani, who is the CEO of Adani Ports and Special Economic Zone, received the LoI from state industries minister …

Adani Group to invest ₹10,000 crores in Bengal
2 years, 8 months ago

Adani Group to invest ₹10,000 crores in Bengal

Hindustan Times  

The Adani Group on Wednesday committed to invest ₹10,000 crore in West Bengal over the next decade, group chief Gautam Adani announced on Wednesday. At the inaugural session of Bengal Global Business Summit 2022 here, Adani said the group’s investments will span world-class port infrastructure, state of art data centres and undersea cables that will connect them across the oceans, …

Adani Group chairman Gautam Adani calls on Sri Lankan President
3 years, 1 month ago

Adani Group chairman Gautam Adani calls on Sri Lankan President

The Hindu  

Adani Group chairman Gautam Adani on Monday called on Sri Lankan President Gotabaya Rajapaksa in Colombo, weeks after his company sealed a deal with the state-owned Sri Lanka Ports Authority to develop and run the strategic Colombo Port’s Western Container Terminal. Ahmedabad-headquartered Indian multinational conglomerate Adani Group last month entered into an agreement with the Sri Lanka government owned Port …

Adani signs $700-mn deal for Lanka port
3 years, 2 months ago

Adani signs $700-mn deal for Lanka port

The Hindu  

Adani group on Thursday signed a more than $700-million agreement with the Sri Lanka Ports Authority and conglomerate John Keells Holdings, becoming the largest foreign investor in the island nation’s ports sector. The commencement of the Colombo West International Container Terminal is expected to add more than 3 million annual TEU capacity to the Port of Colombo “With the signing …

Adani ports concludes acquisition of State’s stake of 10.40% in GPL
3 years, 3 months ago

Adani ports concludes acquisition of State’s stake of 10.40% in GPL

The Hindu  

The Adani Ports and Special Economic Zone Ltd. has concluded the acquisition of the Andhra Pradesh government’s 10.40% stake in the Gangavaram Port Limited for a consideration of ₹645 crore. The merger of GPL with the APSEZ has also been approved, with the GPL’s valuation amounting to ₹120 per share and the APSEZ’s fair value being ₹754.80 per share. Raju …

Competition Commission of India clears Andhra Pradesh government’s sale of 10 per cent stake in Gangavaram port to Adani Ports
3 years, 3 months ago

Competition Commission of India clears Andhra Pradesh government’s sale of 10 per cent stake in Gangavaram port to Adani Ports

The Hindu  

A tweet from the Competition Commission of India on September 20 said it all: “Commission approves proposed acquisition of 10.40% equity shareholding of Gangavaram Port by Adani Ports and Special Economic Zones Ltd”. The fair trade regulator’s tweet comes in the wake of the Andhra Pradesh government’s decision to hive off its 5,37,31,700 shares in Gangavaram Port Limited, a debt-free …

Adani Ports to raise $500 mn through dollar bonds
3 years, 5 months ago

Adani Ports to raise $500 mn through dollar bonds

Live Mint  

MUMBAI: Adani Ports & Special Economic Zone Ltd, the flagship ports operator of billionaire Gautam Adani’s group, is looking to raise at least $500 million on offshore debt through dollar bonds. The latest dollar bond issuance by Adani Ports follows a $500 million issuance in January and will be used for both refinancing existing debt as well as for capex. …

AP govt offers Adani group Gangavaram Port on a platter
3 years, 5 months ago

AP govt offers Adani group Gangavaram Port on a platter

The Hindu  

Andhra Pradesh Chief Minister Y.S. However, in a move that is the polar opposite of this stand and one that smacks of hypocrisy, the same Jagan Mohan Reddy government has decided to disinvest its 10.39 per cent stake in Gangavaram Port Limited to Adani Ports and Special Economic Zone Limited, one of India’s largest commercial port operators. In pursuit of …

S&P Index to Remove Adani Ports for Links with Myanmar Military
3 years, 8 months ago

S&P Index to Remove Adani Ports for Links with Myanmar Military

News 18  

S&P Dow Jones Indices on Tuesday said it will remove Adani Ports and Special Economic Zone from its sustainability index following reports of its business ties with Myanmar's military that has been accused of human rights violations after a coup. In a statement, S&P Dow Jons Indices said: "Adani Ports and Special Economic Zone will be removed from the Dow …

Adani Ports Removed from S&P Index Due to Links with Myanmar Military
3 years, 8 months ago

Adani Ports Removed from S&P Index Due to Links with Myanmar Military

News 18  

S&P Dow Jones Indices said it has removed India’s Adani Ports and Special Economic Zone Ltd from its sustainability index due to the firm’s business ties with Myanmar’s military which is accused of human rights abuses after a coup this year. India’s largest private multi-port operator is building a $290 million port in Yangon on land leased from the military-backed …

Adani Ports confirms role in Colombo terminal project
3 years, 9 months ago

Adani Ports confirms role in Colombo terminal project

The Hindu  

In its first confirmation yet of investing in the Colombo Port, after much controversy within Sri Lanka and an apparent strain in Indo-Lanka ties, Adani Ports and Special Economic Zones on Monday said it was “bolstering” its global footprint with the West Container Terminal project in the island nation’s strategic port. It will launch decades of container growth.” ‘Compromise’ formula …

Adani Ports Stock Price Rises to 52-week High After Brokerages Revise Target Price
4 years ago

Adani Ports Stock Price Rises to 52-week High After Brokerages Revise Target Price

News 18  

Adani Ports and Special Economic Zone share seems to be performing well as it moved up in the early trade today, touching a 52-week high of Rs 467.90. CLSA, a research house, suggested a buy, raising EPS 12 per cent over FY22-23CL and enhancing target price to Rs 540 from Rs 425, reported moneycontrol.com. Jefferies has also increased the target …

Adani Group set to develop Sri Lanka’s East Container Terminal in Colombo port
4 years, 1 month ago

Adani Group set to develop Sri Lanka’s East Container Terminal in Colombo port

Live Mint  

India’s Adani Group is the front-runner to develop Sri Lanka’s stalled East Container Terminal in Colombo port, people with knowledge of the matter said, helping billionaire Gautam Adani expand his port business overseas. Adani Ports and Special Economic Zone Ltd. and a local partner received an in-principle approval to sign a deal with Sri Lanka Ports Authority, which will hold …

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