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APSEZ incorporates wholly-owned arm Adani Bhavanapadu Port

Press Trust of India  |  New Delhi 

Ports and Special Economic Zone (APSEZ) today said it has incorporated a wholly-owned subsidiary - Bhavanapadu Port Private Limited Ltd (ABPPL).

The newly formed entity which would operate in the port sector is yet to commence operations, said in a BSE filing.

"has incorporated wholly-owned subsidiary company 'Bhavanapadu Port Private Ltd' on May 21, 2018," it said.

Elaborating on the details, said it has acquired 50,000 equity shares of 10 each in ABPPL, for 5 lakh.

APSEZ has 10 strategically located ports and terminals on both western and eastern coastline of India, representing 24 per cent of India's total port capacity.

Shares of the company today closed 0.90 per cent down at 380.35 apiece on BSE.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 22 2018. 18:26 IST