Warburg Pincus affiliate to purchase 0.49% in APSEZ for Rs 800 crore


Adani Ports & SEZ on Sunday stated it’s issuing 1 crore shares, or 0.49%, of its fairness to an affiliate of Windy Lakeside Funding, an affiliate of Warburg Pincus for Rs 800 crore.

About 10 million fairness shares can be allotted to the funding agency at a value of Rs 800 every, APSEZ knowledgeable, leading to a premium of 6.7% on the inventory’s final closing value. The corporate stated it bought the shares at a premium of Rs 798 per share. The inventory of APSEZ closed at Rs 749.65 per share on the Nationwide Inventory Change on Friday.

A unprecedented basic assembly (EGM) of the agency’s shareholders can be held on April 6 to hunt approval for the proposed preferential challenge. “APSEZ has constructed a formidable market place over its 20-year historical past and emerged as one of many quickest rising port teams on this planet. Given its unmatched scale and logistics footprint, we’re assured APSEZ will proceed to show sustainable long-term development,” stated Vishal Mahadevia, MD and head, Warburg Pincus India.

“We welcome Warburg Pincus to affix the league of current long run marquee buyers which have invested in APSEZ together with LIC, Temasek, Constancy, GIC and Norges,” stated Karan Adani, CEO, Adani Ports.

APSEZ has an built-in infrastructure enterprise mannequin that mixes a string of 12 ports all alongside the Indian shoreline, industrial zones, and a pan India multi-modal logistics presence. Final Wednesday, Adani had stated it might purchase 31.5% in Gangavaram Port from the identical affiliate for Rs 1,954 crore.



Supply hyperlink