APSEZ seals ₹6,200-cr GPL port deal

Gangavaram Port is the third-largest non-major port capable of handling fully laden super cape size vessels with nine berths and freehold land of 1800 acres. The port is a gateway for a hinterland spread over 8 states across eastern, southern and central India. The acquisition of GPL has been carried out at a cost of ₹6,200 crore (517mn shares at ₹120 per share). APSEZ has already acquired a 31.5 per cent stake in the firm from Warburg Pincus and another 10.4 per cent from the Andhra Pradesh government during FY22.