M&A

M&A

Adani Ports acquires residual 10.4% in AP's Gangavaram port for Rs.645-Cr

BSE Disclosure  

Adani Ports and Special Economic Zone Ltd (APSEZ) has completed the acquisition of 10.4% stake of Gangavaram Port Ltd (GPL) from Government of Andhra Pradesh for INR 644.78 crore. GPL is engaged in the business of handling various types of Dry bulk and Break bulk cargo. It is a multi-cargo facility and handled 32.81 MMT of cargo in FY 21, with a capacity of 64 MMT. The operational revenue of the port for financial year 2020-21 was INR 1,057 crore.