Adani goes on a buying spree in Telugu states

[Spartan]

The Adani group is on an acquisition spree in the Telugu states and the latest target is a stake in the city-based electric bus manufacturer Olectra.

The Adani group, which made a foray into the fast-growing segment of electric vehicles a few years ago, has set its eyes on Olectra Greentech, in which a majority stake is held by the Megha group. Sources privy to the developments told Deccan Chronicle that the Adani group will take 10 per cent equity in Olectra but the deal value is yet to be known.

Olectra was launched by Goldstone Infratech with technical collaboration from the BYD group of China. The name of the company was changed to Olectra Greentech and its share price closed at Rs.177.90 on Thursday.

On Wednesday, the Adani group announced the purchase of 31.5 per cent stake in Gangavaram port. Though the Adani group made repeated attempts to get into the most valuable project, it did not materialise as the original promoters, D.V.S. Raju and family, were said to have fixed a higher value, approximately Rs.10,000 crore.

The Adani group realised its dream, however, by buying 31.5 per cent stake from the international venture capitalist Warburg Pincus for Rs.1,954 crore, bringing down the value of the company to just about Rs.5000 crore.

"There is every reason for the original promoters to keep the company at a higher value," sources in port sector pointed out. Gangavaram with its locational advantage and deeper levels is considered to be least expensive on maintenance.

On the financial front, the port is debt-free and earned a net profit of Rs.516 crore in 2019-20 fiscal against a turnover of `1,082 crore. The company also has cash reserves of nearly Rs.500 crore.

Earlier, the Adani group had bought a 75 per cent stake in Krishnapatnam port.

[jalsa01]

Lol.. Imagine his situation when BJP out of power at center and Jagan as CM..  

[Anta Assamey]

Jagan industrial policy is bringing in huge investors into Andhra Pradesh ... Jagan Anna opened shop...

[modi_bhakth]

TS ki aascharyam tho koodina aanandam valana kaligina dhukkam anukunta ee news tho

[Killer66]

intelligent bussiness man weak govts vunapudu buying

[jalsa01]

40 minutes ago, Killer66 said:

intelligent bussiness man weak govts vunapudu buying

repu power maraka football adukuntaaru.. he grabbed mumbai airport and krishnapatnam port and same will hit back..

[snoww]

7 minutes ago, jalsa01 said:

repu power maraka football adukuntaaru.. he grabbed mumbai airport and krishnapatnam port and same will hit back..

Ambani type lo dealings nersukuntaaru mostly. Power lo evaru vunna vallatho good relations 

[Killer66]

42 minutes ago, jalsa01 said:

repu power maraka football adukuntaaru.. he grabbed mumbai airport and krishnapatnam port and same will hit back..

Emo bhaiya opposition waste kadha bjp kanna money esthey gammuna vuntaru item gallu 

[Ryzen_renoir]

Adani buying ports in AP is a big net positive for the that area 

Krishnapatnam lo 2014-2019 asalu emi infrastructure development ledhu except one railway line .  After Adani acquired they have started 11,000 crores of works around that port .

They cleverly included it in sagarmala project and Bengaluru - Chennai industrial corridor but the objective is to make the area around the port well connected to other cities . 

State government is acquiring around 15000 acres of land around krishnapatnam node , many villages are being asked to vacate soon. Something big is being done behind the scenes without publicity 

[undarware_troller]

3 hours ago, modi_bhakth said:

TS ki aascharyam tho koodina aanandam valana kaligina dhukkam anukunta ee news tho

Nandamuri Mental Krishna cheppinattu Sambaramascharyam ah bedharu?

[jalsa01]

2 hours ago, Ryzen_renoir said:

Adani buying ports in AP is a big net positive for the that area 

Krishnapatnam lo 2014-2019 asalu emi infrastructure development ledhu except one railway line .  After Adani acquired they have started 11,000 crores of works around that port .

They cleverly included it in sagarmala project and Bengaluru - Chennai industrial corridor but the objective is to make the area around the port well connected to other cities . 

State government is acquiring around 15000 acres of land around krishnapatnam node , many villages are being asked to vacate soon. Something big is being done behind the scenes without publicity 

Ante inko vanpic ki ready aa

[Ryzen_renoir]

9 minutes ago, jalsa01 said:

Ante inko vanpic ki ready aa

Central government level lo jaruguthundhi , compensation is also above market rate . Most people are moving out voluntarily .

Bayataki mathram Chennai - Bengaluru industrial corridor ani chebuthunaru 

[jawaani_jaaneman]

Adani needs AP coast.. 

[ARYA]

Jagan attracting investments like magnet