Adani Ports to acquire 95% of the Gopalpur Port in Odisha

For ₹13.49 billion, Adani Ports would purchase a 95% ownership in Gopalpur Port in Odisha. For a total deal value of ₹30.80 billion, it will buy 39% from Orissa Stevedores and 56% from Shapoorji Pallonji Group. Gopalpur manages a variety of dry bulk loads. Managing Director Karan Adani emphasized how the acquisition would strengthen the integrated logistics plan and port network of the Adani Group.

The equity value of this deal has been pegged at ₹1,349 crore ($161.74), while enterprise value of the transaction amounts approximately ₹3,080 crore. The move is aimed at strengthening Adani Port's presence along the east coast. With an existing capacity of around 247 million tonnes (MT), this acquisition would further solidify their presence in this region.

The enterprise value of Gopalpur Port stands at $600-650 million ( ₹5,000 crore), with SP Group's equity value estimated at $240-260 million ( ₹2,000 crore), as per report.

In addition to the enterprise value there is a contingent consideration of ₹270 crore estimated to be payable after 5.5 years, subject to fulfilment of certain conditions as agreed with the sellers.

"GPL (Gopalpur Port) 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," said Karan Adani, Managing Director at Adani Ports.

Gopalpur Port handles a diverse range of dry bulk cargo, including alumina, coal, ilmenite, iron ore and limestone.

APSEZ is responsible for the development and operation of around 12 ports and terminals across both the west and east coasts of India.