SP group in talks with PE firms to sell Gopalpur port, other assets

The talks with private equities and other investors were initiated after JSW Ports and the Adani group made offers of around Rs 3,000 crore to acquire Gopalpur Port

To facilitate debt repayment, Shapoorji Pallonji (SP) Group has initiated talks with private-equity firms to sell its entire stake in Gopalpur Port, Odisha, and part of the shareholding in infrastructure development firm Afcons Infrastructure by early next year.

Talks with private equities and other investors were initiated after JSW Ports and Adani Group made offers of around Rs 3,000 crore to acquire Gopalpur Port, but that did not meet the group’s valuation expectations.

A plan to sell stake in Afcons Infrastructure through an initial public offering is also on the table, said a source close to the development. 

SP Group