Gangavaram Port to be acquired by Adani Ports

12 Oct 2022 CW Team

The courts in Ahmedabad and Hyderabad have given their approval for Adani Ports and Special Economic Zone (APSEZ), to use a composite scheme of arrangement to acquire the remaining 58.1% stake in Gangavaram Port (GPL).

GPL will turn into a wholly owned subsidiary of APSEZ following this NCLT permission and the subsequent equity acquisition.

GPL's acquisition will cost about Rs 62 billion. During FY22, APSEZ already purchased a 31.5% share in the business from Warburg Pincus and a further 10.4% from the Andhra Pradesh government. Through a share swap agreement, DVS Raju & family's 58.1% stake will be acquired, and the former GPL promoters will get about 47.7 million APSEZ shares as part of the deal.

Also read:
GIP in talks with Apollo Global to buy Adani bonds
Ambuja Cements to raise funds from Adani Group

Infrastructure Urban

16 May 2025

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Infrastructure Urban

16 May 2025

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Infrastructure Urban

16 May 2025

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..