Saturday, March 15, 2025 | 10:47 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Adani Ports surges 5% as Co set to acquire stake in Gangavaram Port

With the completion of this deal, Adani Ports' market share will increase to above 30 per cent at 12 locations across India

Adani ports
Premium

This would enable APSEZ to service customers in Maharashtra, which includes the highly industrial areas and development in the Mumbai & Pune regions

SI Reporter Mumbai
Shares of Adani Ports and Special Economic Zone (APSEZ), on Thursday, rallied 6 per cent to hit a new high of Rs 765.70 on the BSE in intra-day trade after the company said it acquiring 31.5 per cent stake held by Warburg Pincus - in Gangavaram Port (GPL) for a consideration of Rs 1,954 crore.

GPL is located in the northern part of Andhra Pradesh next to Vizag Port. It is the second largest non major port in Andhra Pradesh with a 64 MMT capacity established under concession from Government of Andhra Pradesh (GoAP) that extends till 2059.

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in