Odisha Government Grants Approvl to Adani Ports &SEZ’s acquisition of 95% stakes in Gopalpur Port.

By B.Maharana
Bhubaneswar, September 12
Odisha Government has approved the transfer of equity shares to Adani Ports and Special Economic Zone Limited (APSEZ) from Shapoorji Pallonji Port Maintenance Private Limited and Odisha Stevedores Limited, along with the endorsement of a Revised Concession Agreement between the Directorate of Ports & IWT, C&T Department, and Gopalpur Ports Ltd (GPL).
The decision was taken by state cabinet headed by Chief Minister Mohaan Charan Majhi on Wednesday.
The cabinet also granted approval to APSEZ to sign the Revised Concession Agreement to facilitate the development and expansion of Gopalpur Ports Ltd.
Adani Ports and Special Economic Zone (APSEZ) acquired a 95% stake in Gopalpur Port in Odish in March 2024. The total consideration for the deal was Rs 3,350 crore, which included an enterprise value of Rs 3,080 crore and a contingent consideration of Rs 270 crore.
Gopalpur Ports Ltd received approval for the transfer of 95% of its equity shares to Adani Ports and Special Economic Zone Limited (APSEZ), comprising 56% from Shapoorji Pallonji Port Maintenance Private Limited and 39% from Orissa Stevedores Limited. Now OSL’s stake has reduced to onl 5%.
The takeover is expected to bolster APSEZ’s presence on the east coast of India and strengthen its integrated logistics strategy. It will also add to the Adani Group’s port network across India and help achieve parity in cargo volume between the east and west coasts.
The acquisition would ensure the development of the Gopalpur port and also the direct and indirect employment opportunity for the local youths, said the Odisha Chief Secretary Manoj Ahuja after the Cabinet meeting,