Ahmedabad: Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer, operator and the logistics arm of the Adani Group today announced the completion of the acquisition of Krishnapatnam Port Company Ltd., (KPCL) for an enterprise value of Rs. 12,000 cr. This will result in APSEZ having a controlling stake of 75% in KPCL from the CVR Group and other investors.
In FY21, the port is expected to generate an EBITDA of approximately Rs.1,200 cr, resulting in an acquisition EV/ EBITDA multiple of 10x.
KPCL is a multi-cargo facility port situated in the southern part of Andhra Pradesh a state which has the second largest coastline in India.
This acquisition will accelerate APSEZ’s stride towards 500 MMT by 2025 and is another step in implementing APSEZ’s stated strategy of cargo parity between west and east coasts of India.
