Adani Ports to acquire 75% stake in Krishnapatnam Port for Rs 13,572 cr

Company could now set eyes on NCLT-listed Dighi Port, say analysts

Adani Ports and Special Economic Zone (APSEZ), one of the country’s largest private port operators, on Friday announced acquisition of 75 per cent stake in Andhra Pradesh-based Krishnapatnam Port Company for an enterprise value of Rs 13,572 crore.
 
The proposed acquisition is the largest by APSEZ so far and would be funded through internal accruals and existing cash balance, the Gautam Adani-led company said in an exchange filing.
 
“This acquisition would accelerate our stride towards FY25 vision of handling 400 million tonnes (mt) cargo. Given the best-in-class infrastructure and the distinct hinterland catered by Krishnapatnam Port, this acquisition