Adani Ports invests Rs 2,800 cr to up stake in Krishnapatnam Port to 100%

Acquires balance 25% Vishwasamudra Holdings' stake

Gautam Adani-led Adani Ports and Special Economic Zone  Ltd (APSEZ) today announced acquisition of the residual 25 per cent stake in Adani Krishnapatnam Port Ltd, (Krishnapatnam Port) for Rs 2,800 cr.

This will result in APSEZ increasing its stake from 75 per cent to 100 per cent in Krishnapatnam Port, the company informed in a release.

Together with the 75 per cent ownership acquired in October 2020, the acquisition implies an enterprise value of Rs 13,675 crore implying an EV/ FY21 EBITDA multiple of 10.3x, it said.

Krishnapatnam Port is located on the east coast of India in Nellore district