Adani Ports' shares rise as Warburg Pincus arm to invest 800cr

Mumbai, March 8 (IANS) Shares of Adani Ports and Special Economic Zone (APSEZ) rose on Monday morning on the company's announcement that Windy Lakeside Investment Ltd, a unit of Warburg Pincus, will invest Rs 800 crore in the company.The Warburg Pincus arm would pick up 0.49 per cent stake in the Adani Group entity with the investment.At around 10.05 a.m., Adani Ports' shares on the BSE were trading at Rs 756.90, higher by Rs 8.35 or 1.12 per cent from its previous close.The Board of Directors of Adani Ports on Sunday took the decision to issue up the 1 crore shares at Rs 800 each for an aggregate consideration of up to Rs 800 crore to Windy Lakeside Investment, the company said in a regulatory filing.
--IANS rrb/sn/ksk/