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

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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 shall be allotted to the funding agency at a worth of Rs 800 every, APSEZ knowledgeable, leading to a premium of 6.7% on the inventory’s final closing worth. The corporate stated it offered 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 Alternate on Friday.

A rare normal assembly (EGM) of the agency’s shareholders shall be held on April 6 to hunt approval for the proposed preferential situation. “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 reveal sustainable long-term development,” stated Vishal Mahadevia, MD and head, Warburg Pincus India.

“We welcome Warburg Pincus to hitch 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.

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