Adani Ports & Special Economic Zone rose 1.12% to Rs 756.95 after the company's board approved an allotment of upto 1 crore equity shares to Windy Lakeside Investment on a preferential basis.
Windy Lakeside Investment is an affiliate of private equity firm Warburg Pincus. The shares will be issued on a preferential basis at a price of Rs 800 per equity share, aggregating to Rs 800 crore.Post allotment, Windy Lakeside Investment will hold 1 crore equity shares, constituting 0.49% of the share capital, of Adani Ports. The transaction is subject to the approval of regulatory/statutory authorities and the shareholders of the company.
Further, Adani Ports announced that an extraordinary general meeting (EGM) of the firm's shareholders will be held on April 6 to seek approval for the proposed preferential issue.
APSEZ, a part of globally diversified Adani Group, is the largest port developer and operator in India. On a consolidated basis, the company posted a 16.23% increase in net profit to Rs 1576.53 crore on 11.59% rise in total income to Rs 4274.49 crore in Q3 FY21 over Q3 FY20.
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