GMR to sell its entire 51% stake in Kakinada SEZ for ₹2610 cr to Aurobindo Realty
September 25, 2020: GMR Infrastructure today announced the signing of definitive agreements for the sale of equity owned by its wholly-owned subsidiary GMR SEZ and Port Holding of its entire 51% stake in Kakinada SEZ to Aurobindo Realty and Infrastructure (ARIPL) for ₹2610 crore.

September 25, 2020: GMR Infrastructure today announced the signing of definitive agreements for the sale of equity owned by its wholly-owned subsidiary GMR SEZ and Port Holding of its entire 51 percent stake in Kakinada SEZ to Aurobindo Realty and Infrastructure (ARIPL) for ₹2610 crore.
As part of the proposed transfer of stake of KSEZ, the 100% equity stake of Kakinada Gateway Port (“KGPL”) held by KSEZ would also be transferred to Aurobindo Realty.
"Total consideration for the sale of equity stake as well as the sub-debt in KSEZ is ₹2610 crore. Out of the total consideration, ₹1600 crore would be received on the closing date and balance ₹1010 crore would be received in next 2 to 3 years which is contingent upon certain agreed milestones," noted the release.
Kakinada SEZ
KSEZ is engaged in the business of implementation of a port-based multi-product special economic zone project at Kakinada, East Godavari District, Andhra Pradesh and KGPL has the concession granted by the government of Andhra Pradesh to set up a greenfield commercial port in Kona Village of the East Godavari district of Andhra Pradesh. The Kakinada SEZ industrial park is located on the Vizag-Chennai Industrial Corridor and offers 8,521 acres of industrial land, while the commercial port will be built in 1,811 acres.
NIIF invests ₹2250 crore for 22.5% share in DP World's Hindustan Ports
1 July 2022 11:16 AM GMTCMA CGM lowers freight rates to support French households
1 July 2022 10:30 AM GMTOver 250 jewellers switch from email to BVC's WhatsApp For Logistics...
1 July 2022 8:17 AM GMTDrewry says beginning of end for carriers' bull run
1 July 2022 7:00 AM GMTMSC signs UN Global Compact Sustainable Ocean Principles
30 Jun 2022 1:00 PM GMTMahindra Logistics to focus on skill enhancement of D&I candidates
30 Jun 2022 12:38 PM GMTXeneta Shipping Index zooms over 10% in June
30 Jun 2022 11:45 AM GMT