In the current negotiation phase, Adani Ports and Special Economic Zone, recognized as India's leading maritime company in terms of market capitalization, is actively planning to pursue the acquisition of Gopalpur Ports in Odisha from the Shapoorji Pallonji Group.
This impending deal, valued at an equity range between Rs 1,100 and 1,200 crore, plays a central role in Adani's overarching strategic blueprint, as it aims to secure infrastructural assets along both the eastern and western coastal areas, as per a report by the Economic Times.
Adani Ports' potential acquisition of Gopalpur Ports would represent its sixth move into obtaining multi-purpose facilities along the eastern coast. Adani Ports already boasts an existing capacity of approximately 247 million tonnes (MT) in this region. The ongoing due diligence process, as reported by ET, indicates that the assessment process is in its evaluation phase. Gopalpur Ports is primarily owned by SP Ports Maintenance, holding a substantial 56 per cent stake in the venture.
Yet, insiders caution that the current negotiations offer no assurance of translating into a finalized transaction.
As per citations, the SP Group disclosed that the port's enterprise value is $600-650 million (Rs 5,000 crore), with SP Group's equity at $240-260 million (Rs 2,000 crore).
The SP Group recently finalized the sale of its majority 50 percent stake in PNP Maritime Services (PNP Port), which has an annual capacity of 5 million tonnes.
Designed mainly to serve the steel industry, Gopalpur Port has been operational since 2015. This all-weather, deep-draft facility is located along the Bay of Bengal. Positioned between the two busiest East Coast ports—south of Paradip Port and north of Vizag Port. It also boasts two railway sidings accessible from both the east and south of India. The port has effectively handled capesize and mini-capesize vessels as part of its operations