Adani Ports SEZ on Tuesday announced that Dighi has allotted 10 lakh equity shares for cash at a total consideration of Rs1cr to the company has part of the Resolution Plan. With this, Adani Ports will hold about 100% stake in Dighi.
In its regulatory filing, Adani Ports said, "In accordance with the approved Resolution Plan, Dighi has allotted 10,00,000 equity shares of Rs. 10 each for cash at total consideration of Rs. 1 crore to APSEZL on February 15, 2021. Pursuant to this acquisition, APSEZL will hold 100% equity share capital of Dighi."
Further, Adani Ports pointed that in accordance with the approved Resolution Plan, the company has paid Rs650cr to financial creditors and approximately Rs55cr towards CIRP cost and other payments.
In March last year, NCLT had approved Adani Ports resolution plan for acquisition of Dighi Port Limited ("Dighi") under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code 2016.
Dighi which is incorporated on July 27, 2000, is located on the banks of Rajapuri Creek in the Raigad district of Maharashtra. It is a minor port established under the 50-year concession from the MMB starting March 2002. Concession permits the handling of all types of cargo including liquid & containers.
On Sensex, Adani Ports has hit a new 52-week high of Rs643.50 per piece in early deals.
At around 2.10 pm, Adani Ports was trading at Rs634.60 per piece up 1.08% on Sensex.