Warburg Pincus to invest ₹800 cr for 0.49% stake in Adani Ports

About 10 million equity shares of face value of ₹2 per share will be allotted to the investment company at a price of ₹800 each, said Adani Ports

Windy Lakeside Investment Ltd, an affiliate of private equity firm Warburg Pincus, will invest ₹800 crore in India’s largest private port operator Adani Ports and Special Economic Zone Ltd (APSEZ) for a 0.49% stake in the company, according to a regulatory filing.

Warburg Pincus is a leading global private equity firm focused on growth investing. The firm has presence in India with a track record of over more than two decades.

Warburg Pincus has a history of successful investments in India in companies focused on building out India’s enabling infrastructure, including companies like Bharti Airtel, Gangavaram Ports and Ecom Express.

About 10 million equity shares of face value of ₹2 per share will be allotted to the investment company at a price of ₹800 each, said Adani Ports.

Adani Ports and Special Economic Zone Ltd’s scrip on BSE closed at ₹749.65 apiece on Friday. This means a premium of 6.7% will be added to the shares allotted to Windy Lakeside Investment.

As per the regulatory filing, the company informed that an extraordinary general meeting (EGM) of the company’s shareholders will be held on 6 April to seek approval for the proposed preferential issue.

Earlier, APSEZ had said it has acquired 31.5% in Andhra Pradesh’s Gangavaram Port Ltd (GPL) from Warburg Pincus.

“The acquisition is valued at ₹1,954 crore and subject to regulatory approvals,” the company said in a BSE filing.

APSEZ is also in discussions with DVS Raju & Family for their 58.1% stake in GPL.