Exclusive Webinar :Gain complete knowledge about how you can invest in global markets during an insightful webinar on April 16 at 11 am. Register Now!

Adani Ports to raise stake in Adani Krishnapatnam port; share price falls

The share touched a 52-week high of Rs 768.40 and a 52-week low of Rs 235.20 on 08 March 2021 and 01 April 2020, respectively.

April 05, 2021 / 09:35 AM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Adani Ports and Special Economic Zone share price slipped a percent in early trade on April 5. The company has signed an agreement with Vishwa Samudra Holdings, to acquire the remaining 25 percent stake in Adani Krishnapatnam Port.

The company currently holds a 75% stake in Krishnapatnam Port.

Post-acquisition of 25% stake, Krishnapatnam Port will become a wholly-owned subsidiary of the Company.

" .... has signed an agreement on April 1, 2021, with Vishwa Samudra Holdings Pvt Ltd, to acquire 25% stake of Adani Krishnapatnam Port Limited for a cash consideration of Rs 2,800 crore," the company said in a press release.

The acquisition is subject to approvals under applicable laws, including approval of the Competition Commission of India.

Close

The transaction is expected to be completed within 3 months.

Krishnapatnam Port is engaged in the business of handling containers, coal, break bulk and other bulk cargo including liquid cargo.

adani

At 09:18 hrs, Adani Ports and Special Economic Zone was quoting at Rs 728.40, down Rs 7.85, or 1.07 percent on the BSE.

The share touched a 52-week high of Rs 768.40 and a 52-week low of Rs 235.20 on 08 March 2021 and 01 April 2020, respectively.

Currently, it is trading 5.21 percent below its 52-week high and 209.69 percent above its 52-week low.
Moneycontrol News
first published: Apr 5, 2021 09:35 am

stay updated

Get Daily News on your Browser
Sections