Adani Krishnapatnam Port Limited, wholly owned subsidiary of Adani Ports and Special Economic Zone Ltd has signed Share Purchase Agreement on January 28, 2022 with Seabird Marine Services Private Limited, to acquire 100% stake of Seabird Distriparks (Krishnapatnam) Private Limited (“Seabird Distriparks”).
Seabird Distriparks is engaged in the business of owning, operating and maintaining Container Freight Station, which are facilities set up for the purpose of in-transit container handling, examination, assessment of cargo with respect to customs clearances, both export and import.
The Investment is in line with Company’s strategy to increase its footprint in Andhra Pradesh. Investment will allow Krishnapatnam Port provide value added services to its customer at the Port.
The consideration to be paid is Rs. 19.22 crores subject to closing adjustments.
Shares of Adani Ports and Special Economic Zone Limited was last trading in BSE at Rs. 709.95 as compared to the previous close of Rs. 708.75. The total number of shares traded during the day was 136529 in over 4085 trades.
The stock hit an intraday high of Rs. 732.75 and intraday low of 707.65. The net turnover during the day was Rs. 98644903.00.
Source : Equity Bulls
