Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
SP Port Maintenance, a Shapoorji entity owns the
business group’s holding in Gopalpur Port. SP Port Maintenance is a fully owned
subsidiary of SP Imperial Star. The remaining shares are owned by Orissa
Stevedores. Shapoorji acquired a 51% ownership of Gopalpur in 2017.
The proposed transaction is in very advanced stages,
the sources said. Adani Ports proposes
to purchase Shapoorji’s 56% equity in Gopalpur Port on the Odisha coast. Both
firms have been in discussions for a planned deal in recent months.
SP Port Maintenance, a Shapoorji entity owns the
business group’s holding in Gopalpur Port. SP Port Maintenance is a fully owned
subsidiary of SP Imperial Star. The remaining shares are owned by Orissa
Stevedores. Shapoorji acquired a 51% ownership of Gopalpur in 2017.
Shapoorji Pallonji, in recent years has explored sale
of its assets to pare the group’s debt load that hovered around 210 billion
rupees ($2.5 billion) as of June, 2023, according to CareEdge Ratings
estimates. If the deal goes through, this will be the first key asset sale by
Shapoorji Pallonji, whose main businesses include infrastructure and
construction.
Group firm Afcons Infrastructure is preparing for an
initial public offering, according to sources. Both Adani Group and Shapoorji
Pallonji didn’t reply to separate emails from ET NOW seeking a comment on the
matter.
Gopalpur Port has
an annual cargo handling capacity of 25 million tonnes. Adani Ports is India’s biggest port operator by market value and cargo
handling capacity metrics. Gopalpur Ports’ key clients include Jindal Steel
& Power Ltd, JSW Minerals Ltd, JSW Steel Ltd, Dalmia Cement (Bharat) Ltd.
The domestic port facilities of Adani Ports have a total capacity of 600
million metric tonnes.
