Adani Port gains on preferential allotment of shares

Adani Ports & Special Economic Zone rose 1.71% to Rs 733 after the finance committee of the board approved the allotment of 1 crore equity shares, or 0.49% stake, on a preferential basis to Windy Lakeside Investment at an issue price of Rs 800 each.

Windy Lakeside Investment is an affiliate of Warburg Pincus affiliate, a leading global private equity firm focused on growth investing.

On a consolidated basis, Adani Port posted a 16.23% increase in net profit to Rs 1,576.53 crore on 11.59% rise in total income to Rs 4,274.49 crore in Q3 FY21 over Q3 FY20.

Adani Port, a part of globally diversified Adani Group, is the largest port developer and operator in India.

 

Powered by Capital Market - Live News