Warburg to invest Rs 800cr in Adani Ports

Mumbai: Four days after

Warburg Pincus

inked an agreement to sell its entire stake in a regional

port

to

Adani Ports

, the US-based PE fund has now decided to invest in the acquirer. On Sunday, Adani, India’s largest port operator, informed the stock exchanges that

Warburg

Pincus will invest Rs 800 crore for about 0.5% stake in the company.

Adani Ports has called for a shareholders’ meet on April 6 to seek approval for the proposed preferential issue.

Adani

plans to issue shares to Warburg Pincus at Rs 800 apiece, which is a 7% premium to Adani Ports’ Friday closing price on the stock exchanges.

Four days ago, Adani had said it will be buying Warburg Pincus’ 31.5% stake in Gangavaram port in Andhra Pradesh for Rs 1,954 crore. It also said that it is in talks to buy the promoter’s 58.1% stake in Gangavaram, which when concluded, will make the Ahmedabad-based player the controlling shareholder of the Andhra Pradesh port.


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