Adani Ports is also acquiring 31.5 percent stake held by Windy Lakeside Investment in Gangavaram Port.
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Windy Lakeside Investment Ltd, a unit of private equity firm Warburg Pincus, will invest Rs 800 crore for a 0.49 percent stake in Adani Ports and Special Economic Zone Ltd (APSEZ), the latter confirmed in a regulatory filing on March 7.
The Board of Directors of APSEZ took the decision to issue up to 10,000,000 Equity shares to Windy Lakeside Investment Ltd (Windy) at a price of Rs 800 per Equity Share (at a premium of Rs 798 per Equity Share), for an aggregate consideration of up to Rs 800 crore, APSEZ said in the notice issued to the exchanges.
Adani Ports acquires 31.5% stake in Gangavaram Port for Rs 1,954 crore
Apart from this, the board approved the issue of notice convening an extraordinary general meeting (EGM) of the shareholders of the company to be held on April 6 through video conferencing.
Earlier this week, there were reports that APSEZ is acquiring 31.5 percent stake held by Windy Lakeside Investment in Gangavaram Port. The acquisition is valued at Rs 1,954 crore and subject to regulatory approvals.
