Adani Group is tightening its grip on the ports in Andhra Pradesh. After the recent acquisition of Krishnapatnam port by Adani Ports and Special Economic Zones Limited (APSEZL) from Navayuga Group, recently, it acquired 31.5 percent of the equity in the Gangavaram Port.
Adani Ports bought the stake for Rs 1,954 crore from Windy Lakeside Investments, a subsidiary of leading PE firm Warburg Pincus. This agreement will come into force with the approval of the regulatory bodies.
The Gangavaram port near Visakhapatnam was promoted by the DVS Raju. He and his family now own 58.1 percent of the company.
Adani Group is also reportedly in talks to buy the stake. Another 10.4 percent is in the hands of the Andhra Pradesh government. If the regulatory bodies give a green signal, then the two main ports in Andhra Pradesh, Krishnapatnam and Gangavaram, will come under the control of Adani.
Director Maruthi is presenting the film, Bhale Unnade directed by J. Sivasai Vardhan and produced…
Now, Disha Patani is having a great time with her friends during their Thai vacation…
Getup Srinu, renowned for his “Jabardasth” performances and often dubbed the “small-screen Kamal Haasan,” is…
"Pushpa: "The Rise" featuring Allu Arjun became a success throughout India including its Tamil version,…
“RRR,” the cinematic gem that took Tollywood into the international limelight and secured an Oscar,…
The release of Kamal Haasan's Indian 2, directed by S. Shankar, seems to be facing…