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While Adani Ports is looking to get Shapoorji Pallonji group's Gopalpur port in Odisha fro Rs 1,100-1,200 crore in equity value, JSW infrastructure bids Rs 3,000 crore in entreprise valuation for the same asset

Adani Ports in talks with Shapoorji Pallonji group to acquire its Gopalpur Ports in Odisha: Report

While Adani Ports is looking to get Shapoorji Pallonji group's Gopalpur port in Odisha for Rs 1,100-1,200 crore in equity value, JSW infrastructure bids Rs 3,000 crore in enterprise valuation for the same asset

While Adani Ports is looking to get Shapoorji Pallonji group's Gopalpur port in Odisha for Rs 1,100-1,200 crore in equity value, JSW infrastructure bids Rs 3,000 crore in enterprise valuation for the same asset

Adani Ports:&nbsp;Adani Ports is reportedly in talks with Shapoorji Pallonji group to acquire its Gopalpur Ports in Odisha for up to Rs 1,100-1,200 crore in equity value. As per The Economic Times report, the due diligence process to acquire the port is currently underway.
<h3>Adani Ports and Special Economic Zone</h3>
This acquisition is part of the Adani group's string-of-pearls strategy that involves owning facilities in both eastern and western water margins. If the deal goes through, this will be the Adani Ports and SEZ&rsquo;s sixth acquisition of a multi-purpose facility in the eastern coast.
Also Read: <a href="https://www.editorji.com/business-news/us-finds-hindenburg-report-irrelevant-for-granting-funds-to-adani-ports-report-1701761408653">US finds Hindenburg report irrelevant for granting funds to Adani Ports: Report</a>
At present Shapoorji Pallonji Maintenance owns 56% in Gopalpur Ports, while the rest is owned by Orissa Stevedores . The Economic Times report also mentioned that JSW Infrastructure was in talks with the Mistrys for the same asset for Rs 3,000 crore enterprise valuation. However, the port is valued around Rs 5,000 crore and the Mistry&rsquo;s equity value was at Rs 2,000 crore.
As per credit rating firm Care Edge the port has a long term bank facilities of Rs 1,432 crore as on February. Gopalpur Ports has been operational since 2015 and is located between the busy Paradip Port and Vizag Port. It is also connected to the Golden Quadrilateral through NH-516.

US to invest in Adani Port: To curtail China's influence in the South Asian Sea, America will invest $553 million in Gautam Adani's Sri Lankan port.

US Investment in Adani Port: US to invest $553 million in Adani's Sri Lankan port terminal project to curtail China's influence

To curtail China's influence in South Asian sea, US will invest $553 million and will work along with sponsors like John Keells Holdings Plc and Adani Ports & Special Economic Zone Ltd

US to invest $553 million in Adani's Sri Lankan port terminal project to curtail China's influence

<h2>To curtail China's influence in South Asian sea, US will invest $553 million and will work along with sponsors like John Keells Holdings Plc and Adani Ports &amp; Special Economic Zone Ltd</h2>

Adani Port:&nbsp;The United States will provide $553 million for a port terminal in Sri Lanka that is being developed by Adani group. This as both Washington and New Delhi are looking to curb China's influence in South Asia.
<h3>US Investment in Adani Port</h3>
The investment comes from US government's largest infrastructure investment in Asia -International Development Finance Corp. The DFC in a statement said it will bolster Sri Lanka's economic growth and &ldquo;its regional economic integration, including with India, a key partner to both countries&rdquo;.
DFC mentioned that it will be working along with sponsors like John Keells Holdings Plc and Adani Ports &amp; Special Economic Zone Ltd., relying on their local experience and high quality standards. This funding is part of a global acceleration of DFC investments that totaled $9.3 billion in 2023.
Also Read: <a href="https://www.editorji.com/business-news/adani-group-explores-complete-stake-sale-in-adani-wilmar-1699256869664">Adani Group in talks to sell entire stake in Adani Wilmar: Report</a>
The DFC&rsquo;s funding will create &ldquo;greater prosperity for Sri Lanka &ndash; without adding to sovereign debt &ndash; while at the same time strengthening the position of our allies across the region,&rdquo; said Scott Nathan, the DFC&rsquo;s chief executive officer.
Meanwhile, an US official has mentioned that financing the Lanka port is emblemtic of the country's commitment to be more engaged in development projects across the Indo-Pacific.
The DFC was launched under the Trump administration with an aim to aid developing nations while advancing US foreign policy goals. As per a new report by AidData institute at William &amp; Mary in Virginia, the funding has accelerated after the covid-19 pandemic and the agency has helped Washington close the development spending gap with China&rsquo;s much more higher-profile Belt and Road Initiative.
<h3>Curbing China's Influence</h3>
The funding also comes at a time when Sri Lanka is highly indebted to China. Before the economic meltdown, China had invested in Sri Lanka's ports and highway projects. By the end of last year, China had invested about $2.2 billion as the Island country's biggest foreign direct investor. As per Bloomberg, US officials have publicly criticized Sri Lanka&rsquo;s little-used southern Hambantota port as unsustainable and part of what it calls China&rsquo;s &ldquo;debt-trap diplomacy.&rdquo;
India also wants the Chinese influence in the South Asian sea to reduce. Colombo's port is one of the busiest in the Indian Ocean, given its proximity to the international shipping routes. The port sees nearly half of all container ships passing through it. As per DFC the port has been operating at more than 90% utilization for two years.
Many of the Indian lawmakers criticised Adani group's investment in Sri Lanka's port project as opaque. This new investment by DFC comes as an endorsement for the group that is facing allegations of short-selling.

The transactions flagged by Deloitte included engineering, procurement and construction (PEC) purchase contracts with a subsidiary of a party identified in the Hindenburg report.

Deloitte flags Adani Ports transactions, citing 'insufficient disclosures'

The transactions flagged by Deloitte included engineering, procurement and construction (PEC) purchase contracts with a subsidiary of a party identified in the Hindenburg report.

Deloitte Haskins and Sells has raised concerns over Adani Ports &amp; Special Economic Zone's transactions with three entities. As per a Bloomberg report, the auditor said there were insufficient disclosures with regard to certain transactions. Deloitte said it couldn't confirm that the parties were unrelated, since the Adani group refused to get an independent external examination that would help prove that. It therefore signed off on the company&rsquo;s books only with what&rsquo;s called a &ldquo;qualified opinion&rdquo;, said the Bloomberg report.&nbsp; As per Bloomberg, it&rsquo;s the first time that a top auditor has issued a qualified opinion on part of the port-to-power conglomerate&rsquo;s books citing allegations from the US short seller report that had wiped more than $100 billion off the group&rsquo;s market value. The move will renew concerns that information gaps persist in Adani&rsquo;s financial dealings, and risks hampering its attempts to move past Hindenburg&rsquo;s allegations of extensive corporate fraud.
While the Adani group denied all allegations, the Supreme Court constituted an expert committee for assessment of the extant regulatory framework and asked stock market regulator SEBI to complete its probe into allegations.
The six-member expert panel earlier this month, found no regulatory failure by capital markets regulator SEBI or signs of price manipulation in the Adani Group stocks in its interim report.
The transactions flagged by Deloitte included engineering, procurement and construction (PEC) purchase contracts with a subsidiary of a party identified in the Hindenburg report.
Deloitte said it conducted its audit in accordance with the Standards on Auditing specified under the Companies Act, 2013. "We are independent of the group and of its joint ventures in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India."

The tycoon has slipped out of the list of the world's top 10 richest people, falling to the 11th place

Hindenburg Effect: Adani out of top 10 rich list; stocks' circuit limits lowered

The tycoon has slipped out of the list of the world's top 10 richest people, falling to the 11th place

It&rsquo;s a mixed trading day for the shares of Adani Group companies. While Adani Total Gas, Adani Wilmar and Adani Power continue to be in a free-fall for the fourth day running, some of the group stocks, namely Adani Enterprises, Ambuja Cements, ACC and Adani Ports have clocked healthy gains. Meanwhile, circuit limit for Adani Total Gas, Adani Green Energy and Adani Transmission has been narrowed from 20 per cent to 10 per cent.
Remember, market regulator SEBI mandates the stock exchanges to reduce the circuit limits for a stock if it hits the same circuit for two days in a row. The sell-off in Adani Group stocks after the report by US based short-seller Hindenburg Research last week has also resulted in a sharp decline in Group&rsquo;s Chairman Gautam Adani&rsquo;s net-worth. According to the Bloomberg Billionaires Index, the tycoon has slipped out of the list of the world's top 10 richest people, falling to the 11th place.

Billionaire Gautam Adani, who has now slipped to the third position on the Bloomberg Billionaires Index said his group would invest $100 billion over the next decade, primarily in energy transition and digital opportunities, as well as sectors such as aerospace and defence, metals and petrochemicals. 
Adani has been aggressively expanding into new sectors, with his latest foray into the cement sector through a $6.5 billion acquisition of Ambuja Cements Ltd and ACC Ltd, instantly making the group the second-largest cement maker in the country. 
It is our commitment to investing $70 billion in an integrated hydrogen-based value chain," Adani said at The Forbes Global CEO Conference 2022 in Singapore.
Adani added that India is set to witness multi-decade growth tailwinds, making it a relatively bright spot in the global economy amid the current turbulent environment.
The group also announced entry into the alumina and iron business with an investment of up to ₹57,575 crore. Starting as a commodities trading company in the late 1980s, the Adani group has, over the years, added ports, airports, power, renewable energy, gas distribution and data centre business to its portfolio. 

Adani to invest $100 billion across new energy

Adani's $100 billion business plan for the next decade

Here's you need to know everything about it: 

Adani's unveils his business plan

&nbsp;We are already the world&rsquo;s largest solar player, and we intend to do far more: Adani&nbsp;

Billionaire Gautam Adani, who has now slipped to the third position on the Bloomberg Billionaires Index said his group would invest $100 billion over the next decade, primarily in energy transition and digital opportunities, as well as sectors such as aerospace and defence, metals and petrochemicals.&nbsp;
Adani has been aggressively expanding into new sectors, with his latest foray into the cement sector through a $6.5 billion acquisition of Ambuja Cements Ltd and ACC Ltd, instantly making the group the second-largest cement maker in the country.&nbsp;
It is our commitment to investing $70 billion in an integrated hydrogen-based value chain," Adani said at The Forbes Global CEO Conference 2022 in Singapore.
Adani added that India is set to witness multi-decade growth tailwinds, making it a relatively bright spot in the global economy amid the current turbulent environment.
The group also announced entry into the alumina and iron business with an investment of up to ₹57,575 crore. Starting as a commodities trading company in the late 1980s, the Adani group has, over the years, added ports, airports, power, renewable energy, gas distribution and data centre business to its portfolio.&nbsp;

Adani Ports shares in focus as a big acquisition anchors in, Gautam Adani backed firm announced it has India's largest third-party marine services provider,  Ocean Sparkle Ltd. Adani Ports and Special Economic Zones (APSEZ) via its subsidiary Adani H

Adani Ports shares buzzing as it acquires Ocean Sparkle

Shares of Adani Ports surge over 3 percent as it acquires 100 percent of Ocean Sparkle

Adani Ports buzzing

Adani&nbsp;Ports shares in focus as a big acquisition anchoring in as it acquires India's largest third-party marine services provider,&nbsp;&nbsp;Ocean Sparkle Ltd.&nbsp;Adani Ports and Special Economic Zones (APSEZ) on Friday said its subsidiary Adani Harbour Services has entered into a definitive agreement and quoted the purchase price at Rs 1,530 crore.
According to a statement, key activities carried out by the company include towage, pilotage, and dredging. With 94 vessels&nbsp;It has a presence in all the major ports, 15 minor ports and all the 3 LNG terminals in India, the statement said.

The consolidated business is likely to double in five years with improved margins, thereby creating significant value for Adani&nbsp;Ports'&nbsp;shareholders.

Adani&nbsp;Ports shares in focus as a big acquisition anchors in, Gautam&nbsp;Adani&nbsp;backed firm announced it has&nbsp;India's largest third-party marine services provider,&nbsp;&nbsp;Ocean Sparkle Ltd.&nbsp;Adani Ports and Special Economic Zones (APSEZ) via its subsidiary Adani Harbour Services has entered into a definitive agreement and quoted the purchase price at Rs 1,530 crore.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/earth-day-2022-showcasing-six-indian-sustainable-startups-1650602093368" target="_blank">Earth day 2022: Showcasing six Indian sustainable startups</a>
Commenting on the development, APSEZ CEO and Whole-time Director Karan Adani said given the synergies of OSL and the Adani Harbour Services Ltd (TAHSL), the consolidated business is likely to double in five years with improved margins, thereby creating significant value for APSEZ's shareholders.
He further said this acquisition not only provides APSEZ a significant share of India's marine services market but also provides us with a platform for building a presence in other countries.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/markets/us-markets-crack-in-a-dramatic-reversal-as-fed-signals-50-bps-rate-hike-1650593137107" target="_blank">Fed fears spark sell-off, Powell braces for 50 bps hike, and more</a>
According to a statement, key activities carried out by the company include towage, pilotage, and dredging.
"With an asset base of 94 owned vessels and 13 third-party-owned vessels, OSL is a market leader," it added.
OSL&nbsp;is valued at an enterprise value of Rs 1,700 crore with Rs 300 crore of free cash in the company, as per the statement. The company was established in 1995 by a group of marine technocrats with P Jairaj Kumar as the Chairman and MD, who will continue as the Chairman of the OSL.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/ev-battery-fires-ola-s-bhavish-aggarwal-trolled-for-dancing-video-on-twitter-1650599646306" target="_blank">EV battery fires: Ola's Bhavish Aggarwal trolled for dancing video on Twitter</a>
It has a presence in all the major ports, 15 minor ports and all the 3 LNG terminals in India, the statement said.
Adani Ports and Special Economic Zones, the flagship transportation arm of the diversified Adani group, is India's largest private ports and logistics company.

Adani to stop all cargo from Iran, Pakistan and Afghanistan
Decision to be implemented from November 15 at all Adani ports&nbsp;
NIA probing case of 2,988 kg heroin seizure from Mundra port&nbsp;

Adani Ports to stop all cargo from Iran, Pakistan and Afghanistan amid drug seizure probe

Adani blocks imports and exports from Iran, Afghanistan, Pakistan as NIA continues probe on Mundra port drug seizure. 

Adani restricts cargo from Iran, Afghanistan, Pakistan

&nbsp;15 
Adani to stop all cargo from Iran, Pakistan and Afghanistan
Decision to be implemented from November 15 at all Adani ports&nbsp;
NIA probing case of 2,988 kg heroin seizure from Mundra port&nbsp;

DRI&nbsp;seized&nbsp; 2,988.21 kg of heroin at the Adani's&nbsp;Mundra Port on September 16.

Adani Ports announced that it will not handle cargo from Iran, Afghanistan and Pakistan on any of it's ports starting November 15. The restriction comes as NIA&nbsp;continues it's probe on the Mundra&nbsp;Port drug haul.&nbsp; In September nearly 3,000 kilograms of heroin valued at Rs 20,000 cr was seized from two containers at Gujarat's Mundra port, run by the Adani Group. The consignment had come from Afghanistan, one of the largest illegal producers of opium. The&nbsp;National Investigation Agency&nbsp;(NIA) on Saturday conducted searches at multiple locations in the country in connection to the drug haul and said various incriminating documents, articles and other items have been seized. The consignment was marked for&nbsp;Aashi Trading Company of&nbsp;Vijayawada, Andhra Pradesh. Last month, a special court for NDPS in Gujarat directed the DRI to investigate if the &ldquo;Mundra Adani Port, its management and its authority gained any benefits&rdquo; from the import of the consignment.

A special court in Gujarat has ordered the Directorate of Revenue Intelligence to investigate if the &ldquo;Mundra Adani Port, its management and its authority has gained any benefits&rdquo; from&nbsp;the&nbsp;import of 2,990 kg of heroin.&nbsp;&nbsp;&nbsp;The Indian Express reported that&nbsp;that a&nbsp;special court for Narcotic Drugs and Psychotropic Substances while hearing the remand application of one of the key accused&nbsp;noted in its order that&nbsp;&ldquo;&hellip; it is required to be investigated&nbsp;how&nbsp;Mundra Adani port was completely under dark and oblivious about the fact of import of such consignment and whether its management and its authority has gained any benefits from import of such consignment of NDPS substances in India.&rdquo;&nbsp;&nbsp;&nbsp;The court has also asked the DRI to investigate &ldquo;the modalities and the process for scanning and checking of such container and consignment at foreign nations and at Mundra port when&nbsp;the&nbsp;containers&nbsp;landed at Mundra Adani Port&rdquo;.&nbsp;&nbsp;The drugs were hidden&nbsp;in two containers that landed at Mundra port from Afghanistan via Iran in the name of Aashi Trading Company of&nbsp;Vijayawada, Andhra Pradesh.&nbsp;

‘Did Mundra Adani port gain?’ NDPS court asks as it orders probe into Gujarat drug seizure

&lsquo;Did Mundra Adani port gain?&rsquo; NDPS court asks as it orders probe into Gujarat drug seizure

A special court in Gujarat has ordered the Directorate of Revenue Intelligence to investigate if the &ldquo;Mundra Adani Port, its management and its authority has gained any benefits&rdquo; from&nbsp;the&nbsp;import of 2,990 kg of heroin.&nbsp;&nbsp; &nbsp; The Indian Express reported that&nbsp;that a&nbsp;special court for Narcotic Drugs and Psychotropic Substances while hearing the remand application of one of the key accused&nbsp;noted in its order that&nbsp;&ldquo;&hellip; it is required to be investigated&nbsp;how&nbsp;Mundra Adani port was completely under dark and oblivious about the fact of import of such consignment and whether its management and its authority has gained any benefits from import of such consignment of NDPS substances in India.&rdquo;&nbsp;&nbsp; &nbsp; The court has also asked the DRI to investigate &ldquo;the modalities and the process for scanning and checking of such container and consignment at foreign nations and at Mundra port when&nbsp;the&nbsp;containers&nbsp;landed at Mundra Adani Port&rdquo;.&nbsp; &nbsp; The drugs were hidden&nbsp;in two containers that landed at Mundra port from Afghanistan via Iran in the name of Aashi Trading Company of&nbsp;Vijayawada, Andhra Pradesh.&nbsp;

In what will be a big boost to Gautam&nbsp;Adani&nbsp;backed Adani&nbsp;Ports,&nbsp;Sri Lanka&nbsp;has&nbsp;proposed 25-year tax holiday for Adani-JKH terminal. The island nation is also planning tax-free imports for the $650 million&nbsp;container terminal.India&rsquo;s biggest private port operator Adani&nbsp;Ports is working with Sri Lanka&rsquo;s John Keells Holdings Plc to develop a port terminal in the island nation. This is&nbsp;billionaire Gautam Adani&rsquo;s first such standalone overseas project.Adani&nbsp;Ports currently has over 30% market share in India and is looking to expand footprint overseas.&nbsp;John Keells&nbsp;is&nbsp;Sri Lanka&rsquo;s largest listed conglomerate.&nbsp;

Big Boost for Adani, Mega tax break in Sri Lanka

Sri&nbsp;Lanka&nbsp;proposes a 25 year tax holiday for port terminal being built by Adani&nbsp;in the island nation

Tax holiday for India's second richest man and largest conglomerate in Sri Lanka.&nbsp;

In what will be a big boost to Gautam&nbsp;Adani&nbsp;backed Adani&nbsp;Ports,&nbsp;Sri Lanka&nbsp;has&nbsp;proposed 25-year tax holiday for Adani-JKH terminal. The island nation is also planning tax-free imports for the $650 million&nbsp;container terminal. India&rsquo;s biggest private port operator Adani&nbsp;Ports is working with Sri Lanka&rsquo;s John Keells Holdings Plc to develop a port terminal in the island nation. This is&nbsp;billionaire Gautam Adani&rsquo;s first such standalone overseas project. Adani&nbsp;Ports currently has over 30% market share in India and is looking to expand footprint overseas.&nbsp;John Keells&nbsp;is&nbsp;Sri Lanka&rsquo;s largest listed conglomerate.&nbsp;

adani ports

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