Adani Ports and Special Economic Zone Ltd concludes stake acquisition in Indian Oiltanking Ltd

Adani Ports and Special Economic Zone Ltd (APSEZ), the largest transport utility in India, has successfully concluded the acquisition of Oiltanking India GmbH's 49.38% equity stake in Indian Oiltanking Ltd (IOTL), which is one of India's largest developer and operator of liquid storage facilities. Acquisition of an additional 10% equity stake in IOT Utkal Energy Services Ltd, a 71.57% subsidiary of IOTL is also concluded. Oiltanking India GmbH is wholly owned subsidiary of Oiltanking GmbH.

Shares of Adani Ports and Special Economic Zone Limited was last trading in BSE at Rs. 612.80 as compared to the previous close of Rs. 596.85. The total number of shares traded during the day was 1466548 in over 28994 trades.

The stock hit an intraday high of Rs. 626.95 and intraday low of 588.15. The net turnover during the day was Rs. 894224254.00.

Source : Equity Bulls

Keywords

AdaniPortsandSpecialEconomicZone INE742F01042 StakeAcquisition IndianOiltanking