Adani Ports in Talks to Acquire Gopalpur Ports in Odisha in ₹1,200 Crore Deal

Adani Ports & Special Economic Zone (SEZ), a leading maritime company in India by market capitalization, is reportedly in advanced discussions for the potential acquisition of Gopalpur Ports in Odisha from Shapoorji Pallonji (SP) Group, according to a report by The Economic Times (ET). The estimated value of the deal is between Rs 1,100-1,200 crore in equity, enhancing Adani Port’s strategic presence on both the eastern and western maritime fronts.

If successful, this would be Adani Ports’ sixth venture into multi-purpose facilities along the eastern coast, adding to its current capacity of approximately 247 million tonnes (MT). Ongoing negotiations include the due diligence process, as reported by sources familiar with the matter.

Gopalpur Ports, primarily owned by SP Ports Maintenance with a 56 per cent stake, and the remaining held by Orissa Stevedores, is valued at $600-650 million (Rs 5,000 crore), with SP Group’s equity valued at $240-260 million (Rs 2,000 crore). Care Edge, a credit rating firm, disclosed the port’s long-term bank facilities at Rs 1,432 crore as of February 2023.

Despite the progress in talks, there is no guarantee that the negotiations will result in a finalized transaction. This development coincides with the Adani Group’s market capital gains, fueled by the United States government declaring the Hindenburg allegations against Adani as “irrelevant.”