Image Source: Business Today
Adani Ports and Special Economic Zone Ltd. (APSEZ) announced today that its shareholders in the Extraordinary General Meeting convened on May 15, 2025, sanctioned two significant resolutions.
The first resolution authorizes the issue of 143.8 million equity shares (14,38,20,153 shares) on a preferential basis to Carmichael Rail and Port Singapore Holdings Pte. Ltd. (CRPSHPL). Shares of face value of ₹2 each at an issue price of ₹1,199 per share are to be issued for consideration other than cash. The issue is towards meeting the consideration payable on acquisition of 100% equity in Abbot Point Port Holdings Pte. Ltd. from CRPSHPL, marking strategic international growth of Adani Ports.
The second resolution approves the acquisition of Abbot Point Port Holdings Pte. Ltd., the owner of the North Queensland Export Terminal (NQXT) in Australia. The acquisition, for its estimated consideration of approximately AUD 3.98 billion (approximately ₹21,600 crore), is likely to add approximately 7% to Adani Ports' EBITDA and its foreign cargo handling capacity. The transaction is an all-equity deal, and the fresh issue shares make CRPSHPL a 6.24% holder of the holding in APSEZ on allotment.
With these clearances, Adani Ports will further strengthen its leadership role as a global logistic player, with a vision of reaching a combined cargo handling capacity of 1,000 million tonnes per annum by the year 2030. The company's management made it clear that the acquisition would enhance the proportion of "take or pay" guaranteed business and enhance possible refinancing of loans outstanding, given the stability in operations of a AAA-rated economy.
Source: TradingView, Reuters
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