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Warburg Pincus affiliate to acquire 0.49 percent stake in APSEZ for Rs 800 crore

Windy Lakeside Investment Ltd will invest Rs 800 crore in Adani Ports and Special Economic Zone Ltd for a 0.49 percent stake in the company.

Adani Ports will allot up to 1 crore equity shares at Rs 800 per share, on a preferential basis. It will result in a premium of 6.7 percent on the stock’s last closing price.

Moreover, the company sold the shares at a premium of Rs 798 per share.

Further, the stock of APSEZ closed at Rs 749.65 per share on the National Stock Exchange on Friday.

However, the Board of Directors of Adani Ports decided to issue up the 1 crore shares on Sunday. This is for an aggregate consideration of up to Rs 800 crore.

The board also approved the issue of notice convening an extraordinary general meeting of the shareholders of the company.

Also, the meeting will take place on April 6 through video conferencing.

Due to it’s unmatched scale and logistics footprint, APSEZ aims continue to demonstrate sustainable long-term growth.

APSEZ has an integrated infrastructure business model that combines a string of 12 ports.

This is along the Indian coastline, industrial zones, and a pan India multi-modal logistics presence.

Moving forward, APSEZ has carved a niche for itself by building a formidable market position over its 20-year history.

It has emerged as one of the fastest growing port groups in the world.

Last Wednesday, Adani confirmed acquisition of 31.5 percent stake in Gangavaram Port from the same affiliate for Rs 1,954 crore.

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