“Adani Ports and Special Economic Zone Witnesses 2% Surge Amid Talks for Gopalpur Ports Acquisition
Adani Ports and Special Economic Zone experienced a notable 2% surge, reaching the day’s high of Rs 1,045.30 on the NSE. This positive momentum follows an Economic Times report revealing the company’s ongoing discussions with the Shapoorji Pallonji Group (SP) regarding the potential acquisition of Gopalpur Ports in Odisha. The proposed equity value for this transaction is estimated to be between Rs 1,100-1,200 crore.
The stock’s robust performance was accompanied by significant trading volumes, with approximately 66 lakh shares traded on the NSE around 11 am. Adani Ports had recently reached its 52-week high of Rs 1,082.50 on the previous day.
Adani Ports is actively engaged in advanced negotiations to acquire Gopalpur Ports from the Shapoorji Pallonji Group as part of a comprehensive strategic plan. This plan aims to establish a strong presence along both the eastern and western water margins, according to the Economic Times. If successful, this acquisition would mark Adani Port’s sixth venture into multi-purpose facilities on the eastern coast, where it already holds an impressive capacity of approximately 247 million tonnes (MT). The due diligence process is currently underway, as per sources familiar with the ongoing talks. Gopalpur Ports is currently 56% owned by SP Ports Maintenance, with the remaining stake held by Orissa Stevedores (OSL). SP Ports Maintenance is fully owned by SP Imperial Star, which also serves as its guarantor.”
