Adani Group acquired 31.5 per cent stake in Gangavaram Port
Adani Group promoted by Gautam Adani has bought 31.5 per cent stake in the Gangavaram Port Limited (GPL) from the Warburg Pincus for Rs.1,954 crore. With the purchase of stake in the GPL, the market share in the business of ports will go up to 30 per cent from the current 25 per cent.
The group also holding talks with DVS Raju and family for their 58.1 per cent share in GPL. The AP government holds 10.4 per cent stake in the GPL. In December 2020, Adani Group had acquired 75 per cent stake in Krishnapatnam Port.