Adani Ports Buys Warburg’s Rs 1,954-Crore Stake In Gangavaram Port

Consolidation Of Rail Assets

Adani Ports also signed a scheme of arrangement with group subsidiaries Brahmi Tracks Management Services, Adani Tracks Management Services, Sarguja Rail Corridor, according to another filing.

The scheme provides for:

• Amalgamation of Brahmi with Adani Ports with effect from April 1.

• Merger of Adani Tracks with Sarguja with effect from the April 2.

• Transfer of the Mundra Rail Business (Divestment Business Undertaking) as a going concern on a slump sale basis with effect from April 2 by Adani Ports To Sarguja for a lump sum consideration.

The objective of the scheme is to consolidate the rail assets under one entity; tap private partnership opportunity for developing the first-mile, last-mile connectivity and increasing the network capacity for rail transport, the company said.

Share Swap

• Adani Ports will credit 100 shares for 708 equity shares of the face value by held by Brahmi.

• Sarguja would credit 100 shares for every 2522 equity shares held by Adani Tracks.

• Sarguja shall pay a lump sum consideration of Rs 188.65 crore to Adani Ports for transfer of the Mundra Rail Business.