Adani Ports acquires Gopalpur Port in Odisha for Rs 3,080 crore from SP Group
11 months, 2 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 handles a diverse mix of dry bulk cargo, including iron ore, coal, limestone, ilmenite, and alumina. GPL will add to the Adani Group’s pan-India port network, significantly enhance overall cargo volume, and strengthen APSEZ’s integrated logistics approach.” In FY’24, GPL is estimated to handle about 11.3 MMT cargo and earn a revenue of Rs 520 crore and achieve EBITDA of Rs 232 crore. In our view, the Gopalpur Port is all set for strong growth and margin expansion in FY’25 with opportunities already identified for achieving higher operational efficiencies and infra debottlenecking, implying further value accretion for APSEZ shareholders, the company said.

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History of this topic

Amid bribery lens, Adani makes move to develop Gopalpur-Jeypore corridor
3 months, 1 week ago

Amid bribery lens, Adani makes move to develop Gopalpur-Jeypore corridor

New Indian Express  

BHUBANESWAR: The intense political slugfest over its acquiring land near bauxite-rich Gandhamardan Hills and the US court’s indictment for allegedly bribing government officials in Odisha notwithstanding, Adani Group has approached the state government for developing the Gopalpur port-Jeypore economic corridor. Sources said, Adani Ports and Logistics has submitted a proposal to Chief Minister Mohan Charan Majhi evincing interest in developing …

After Chabahar, India looks to build port facilities in Bangladesh and Sri Lanka
5 months, 2 weeks ago

After Chabahar, India looks to build port facilities in Bangladesh and Sri Lanka

Live Mint  

India is looking to strengthen its global maritime play by developing two additional ports in Bangladesh and Sri Lanka, Sarbananda Sonowal, minister for ports, shipping and waterways said on Wednesday. Speaking about the ministry’s achievements in the first 100 days of the new NDA government, Sonowal said Indian Ports Global Limited, a wholly owned subsidiary of Sagarmala Development Company Limited …

Adani Ports to buy 95% of Odisha's Gopalpur Port for $162 million: What we know so far on the deal
11 months, 2 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 …

SP Group sells Gopalpur Port to Adani Ports at enterprise value of Rs 3,350 crore
11 months, 2 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 Ports share surge over 5 per cent as company returns to bond market after two years hiatus
1 year, 2 months 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 Ports board approves raising up to ₹5,000 crore
1 year, 2 months 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 Ports share price climbs 3%; Motilal Oswal, Kotak positive on stock
1 year, 3 months ago

Adani Ports share price climbs 3%; Motilal Oswal, Kotak positive on stock

Live Mint  

Adani Ports share price continued witnessing buying interest on the fourth day on the trot as it rose almost 3 per cent in early trade on Thursday, December 7. Adani Ports share price opened at ₹1,028 against the previous close of ₹1,018.65 and soon rose 2.6 per cent to ₹1,045.25. The stock has attracted fresh buying interest after in an …

Adani Ports nears acquisition of Gopalpur Ports in Odisha
1 year, 3 months ago

Adani Ports nears acquisition of Gopalpur Ports in Odisha

Live Mint  

Adani Ports and Special Economic Zone, India's leading maritime company by market capitalisation, is in advanced negotiations to acquire Shapoorji Pallonji Group's Gopalpur Ports in Odisha, as per an Economic Times report. The potential deal, estimated at ₹1,100-1,200 crore in equity value, aligns with Adani Port's strategic expansion plans along both the eastern and western maritime borders. The enterprise value …

Adani Ports, Special Economic Zone sells Myanmar Port for USD 30 million
1 year, 10 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
2 years 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 …

Adanis get Letter of Intent for Tajpur port in West Bengal
2 years, 5 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, 10 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, …

After drug haul at Mundra, Adani Ports says won't handle cargo from Iran, Pakistan or Afghanistan
3 years, 5 months ago

After drug haul at Mundra, Adani Ports says won't handle cargo from Iran, Pakistan or Afghanistan

India Today  

In a statement on Monday, Adani Ports and Logistics said it will not handle "EXIM containerised cargo originating from Iran, Pakistan and Afghanistan" starting November 15. One of the country's largest commercial port operators, Adani Ports and Logistics has a presence across 13 domestic ports in seven states, including Gujarat, Maharashtra, Kerala, Tamil Nadu and Odisha. READ: NIA takes over …

Adani group gets control of Dighi Port in Maharashtra
4 years ago

Adani group gets control of Dighi Port in Maharashtra

Op India  

While Congress prince Rahul Gandhi keeps ranting against wealth creators in the country, dragging the name of corporate giants Ambani and Adani in every speech and statement to derive negative public sentiments against the private sector, the Adani Ports and Special Economic Zone Ltd has won a bid to develop the Dighi Port Limited in Maharashtra. Adani Port to invest …

Adani Group set to develop Sri Lanka’s East Container Terminal in Colombo port
4 years, 4 months 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 …

Cong says Kerala govt, Adani colluding to delay Vizhinjam Port
5 years, 3 months ago

Cong says Kerala govt, Adani colluding to delay Vizhinjam Port

The Quint  

Thiruvananthapuram, Dec 5 At a time when Kerala's dream port project - Vizhinjam - should have been in operation, the state Congress-led opposition on Thursday alleged that the Pinarayi Vijayan-led Kerala government was hand in glove with Adani group chief Gautam Adani, which could result in the project getting delayed indefinitely. What's even unfortunate is yesterday Vijayan and his team …

Adani Ports to complete terminal expansion at Mundra next year
8 years, 7 months ago

Adani Ports to complete terminal expansion at Mundra next year

Live Mint  

New Delhi: Adani Ports and Special Economic Zone Ltd aims to complete expansion of Adani International Container Terminal Pvt. The strategy is part of Gautam Adani-led Adani Group’s plans to develop a world-class portfolio of ports and allied logistics facilities to capture the benefits of the country’s emergence as a global container transhipment hub. The project aims to create a …

Adani Ports acquires Dhamra Port for Rs.5,500 cr
10 years, 10 months ago

Adani Ports acquires Dhamra Port for Rs.5,500 cr

The Hindu  

Gautam Adani-led Adani Group, which has been under attack from the Congress and Aam Admi Party for its proximity to Narendra Modi, who is set to become India’s Prime Minister on Friday, announced the acquisition of Dhamra Port in Odisha from Larsen & Toubro and Tata Steel. Adani Ports and Special Economic Zone, on Friday, said it had executed a …

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