Adani Ports Completes Acquisition Of 95% Stake In Gopalpur Port

The largest commercial port operator in India, Adani Ports and Special Economic Zone Limited (APSEZ) handles almost 25% of all cargo movement in the nation. Its presence in 13 domestic ports spread across seven maritime states—Gujarat, Maharashtra, Goa, Kerala, Andhra Pradesh, Tamil Nadu, and Odisha—demonstrates the widest national footprint with improved hinterland connectivity. In addition to being best-in-class, the port facilities’ most recent cargo handling infrastructure can handle the biggest ships that call at Indian shores. Our ports are capable of handling any kind of cargo, including crude, liquid, and dry cargo, and containers.

Gopalpur Port Ltd. is 95% owned by Adani Ports

On October 11, Gopalpur Port Ltd.’s present shareholders were informed that Adani Ports and Special Economic Zone (APSEZ) had successfully purchased a 95% stake in the company. A final contract was signed on March 25 which is the reason for this purchase.

The acquisition will see APSEZ purchase 56% of the stake from SP Port Maintenance Private Ltd. and roughly 39% from Orissa Stevedores Ltd., per the company’s March filing. The enterprise value of GPL is projected to be Rs 3,080 crore, subject to closing adjustments, with a total consideration for the stake of Rs 1,349 crore.

About Gopalpur Port Ltd.

GPL is a company that was founded in July 2006 and is focused on managing various types of dry bulk and break bulk cargo. During the fiscal year 2022–2023, the port handled 7.4 million metric tonnes of cargo and earned Rs 373 crore in operating revenue. During the current fiscal year, GPL is expected to handle roughly 11.3 MMT of cargo, bringing in an estimated Rs 520 crore in operating revenue. The addition of GPL to APSEZ’s portfolio, according to Managing Director Karan Adani, will improve cargo volume parity between India’s east and west coasts.

Stock price of Adani Ports and Special Economic Zone Ld

The stock of Adani Ports and Special Economic Zone Ld. is currently trading at Rs. 1409.80 per share, with a high of Rs. 1426, where a strong move in the stock is expected before the end of the day.

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