Gautam Adani’s firm makes massive buy at enterprise value of Rs 30800000000, Karan Adani claims it will…

Gautam Adani is currently the second richest man in India with a net worth of Rs 664429 crore. He is involved in a wide range of businesses through various companies of Adani Group. One of the core businesses under the Adani Group is Adani Ports which has made a massive Rs 3080 crore purchase. India’s largest port operator, Adani Ports & Special Economic Zone has acquired 95% stake in Gopalpur Ports Ltd from its existing shareholders for an equity value of Rs 1349 crore. Subject to closing adjustments, the transaction implies an enterprise value of Rs 3080 crore.

For those who are unaware, Gopalpur Ports is known for handling a diverse mix of dry bulk cargo, including iron ore, coal, limestone, ilmenite, and alumina. "GPL will add to the Adani Group’s pan-India port network, east coast vs west coast cargo volume parity and strengthen APSEZ’s integrated logistics approach,” Karan Adani, Managing Director of Adani Ports said.

"In our view, the Gopalpur Port is all set for strong growth and margin expansion in financial year 2025 with opportunities already identified for achieving higher operational efficiencies and infra debottlenecking, implying further value accretion for APSEZ shareholders," he further added.

Gautam Adani’s firm mentioned that the massive investment is in line with their plan of East Coast to West Coast parity and Gopalpur Port's location will allow it unprecedented access to the mining hubs of Odisha and neighbouring states.