Ports & SEZ Adani Company History

Adani Company Port

Gujarat Adani Port Ltd. (GAPL) was founded on 26 May 1998 as Adani Ports and Special Economic Zone Ltd. It is India’s largest private Ports & SEZ Adani Company. Therefore, a key business area includes developing, operating, and maintaining the Mundra Port and other port-related infrastructure facilities. As a result, this includes the Multi-product Special Economic Zone developed by Adani Group, one of India’s largest business conglomerates. APSEZ operates ports in Mundra Dahej Hazira Dhamra Ennore and Kattupalli, as well as terminals in Visakhapatnam and Kandla (Tuna-Tekra). Consequently, it has 10 ports (2 in the development phase) that handle a wide range of cargo. They handle coal and crude oil to fertilizers, steel, and project cargo, as well as edible oil, chemicals, and automobiles.

Adani Ports - History of the Company

To clarify, at the end of March 2018 the company had 28 subsidiaries (direct and indirect). Also, the company began commercial operations in October 2001. Furthermore, in May 2002, it signed an agreement for Crude Oil handling with Guru Govind Singh Refineries Ltd. (GGSRL). However, a deal was signed with Indian Oil Corporation (IOC) to build a Single Point Mooring (SPM) Facility and Crude Oil Handling at Mundra in October 2002. On the other hand, the company signed an agreement in November 2002 with Indian Railways regarding. For instance, this integration of the Mundra-Adipur railway line with the national rail network. After that, the company also signed a subcontract agreement for the construction of a container terminal in January 2003. They also entered a shareholders agreement with Kutch Railway Company Ltd. for Gandhidham – Palanpur gauge conversion in July 2003.

Adani Ports & Special Economic Zone Ltd. - Company Profile

Above all, in June 2005 it merged with Adani Port Ltd. with effect from April 1, 2003. Certainly, on 5th December 2005, Single Point Mooring began to operate. Further, on 6th April 2006, Adani Chemicals Ltd. and Mundra Special Economic Zone Ltd. merged with the firm. Moreover, to reflect the nature of the business, the company’s name was changed to Mundra Port and Special Economic Zone Ltd. (MPSEZ) in July 2006. In March 2007, the company added two additional bulk cargo berths at Terminal II. In addition, an agreement with Tata Power was signed in April 2007 for the company to handle coal imported by the company. Meanwhile, in October 2007, the company sold its shares in an initial public offering (IPO). During, their shares were listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in November 2007. 

Introducing Adani Ports & Special Economic Zones Ltd.

Subsequently, it signed an agreement with Maruti Suzuki India Ltd. in February 2008 for the purpose of handling car exports. After that, the company began operating its terminal in January 2009. Likewise, Adani Mormugao Port Terminal Pvt. Limited, Adani Hazira Port Private Ltd. and Mundra International Airport Private Limited were all formed as wholly-owned subsidiaries during the 2009-10 financial years. Additionally, Adani Petronet (Dahej) Port Pvt. Ltd. entered into a joint venture. Similarly, the PLL (Petronet LNG Limited) built a solid cargo port in Dahej city of Gujarat. Therefore, Adani Logistics Ltd. and Inland Conware (Ludhiana) Pvt. Ltd. merged to form Inland Conware Pvt. Ltd. Moreover, Inland Conware Pvt. Ltd. has changed its name to Adani Logistics Ltd. 

The History of Adani Ports and Special Economic Zone Ltd.

As a result, it was in the year 2010-11 that the company incorporated Adani Vizag Coal Terminal Pvt. Ltd. and Adani International Container Terminal Pvt. Ltd. as subsidiaries, as well as Mundra Port Pty Ltd. So, Australia, and Mundra Port Holdings Pty Ltd. Australia. Consequently, in September 2010, the promoter entities merged with Adani Enterprises Ltd. (AEL), which then became the holding company in place of the erstwhile Adani Infrastructure Services Pvt. Ltd. In the West basin, Mundra Port launched its commercial operations on 12 December 2010 when M.V. CSK Beilun with a length of 289 meters and a beam of 45 meters berthed there.

An Overview of Adani Ports & Special Economic Zone Ltd.

That is to say, with the commissioning of the West Basin, Mundra Port will become the world’s largest coal import terminal. On January 6, 2012, the company became Adani Ports and Special Economic Zone Ltd. In other words, as part of the concession agreement, the Kandla Port Trust and Adani Kandla Bulk Terminal Pvt. Ltd. signed a contract on 2 July 2012 to build and operate a dry bulk terminal at the Kandla Port. Also, APSEZ announced on 2nd July 2013, that it formed a joint venture with Switzerland-based MSC Mediterranean Shipping Company. The world’s largest shipping company, in order to operate a new container terminal at Mundra port.

A Company History of Adani Ports & Special Economic Zone Ltd.

As of 12 September 2013, the Mundra port had handled 151229 metric tons of steam coal in 24 hours, a record in coal cargo handling in the country. Eight months ahead of schedule, APSEZ announced the completion of the Rs 400-crore steam coal import terminal at Visakhapatnam port. APSEZ announced that its Hazira port had handled liquid cargo. Its flagship Mundra port handled 100 million metric tonnes in FY 13-14. So, announcing today that APSEZ has executed a definitive agreement with L&T Infrastructure Development Projects Limited and Tata Steel Limited. In addition, APSEZ acquired Dhamra port located on the East Coast of India in Odisha for Rs 5500 crore. An SEZ in Mundra was cleared by the Union Ministry for Environment and Forests on 16th July 2014. The SEZ covers 8481 hectares in Mundra, and the Mundra port is part of the SEZ.

The History of Adani Ports & Special Economic Zone Ltd.

At Tuna Tekra Kanda Port, APSEZ announced on 10th February 2015 that a bulk terminal with a handling capacity of over 20 million tonnes has been commissioned. On 5 December 2015, APSEZ formally began the development of the international transshipment project in Vizhinjam in Kerala. Abbot Point Operations Pty Ltd. (APO), an Australian subsidiary of APSEZ, has assumed ownership of Abbot Point Bulkcoal Pty Ltd. (APB), a Queensland company that is responsible for the maintenance and operation of Abbot Point Coal Terminal. On 20 April 2017, Adani Logistics Ltd. a subsidiary of APSEZ, commissioned its Multimodal Logistics Park in Ludhiana. In April 2017, the APSEZ announced the commissioning of a new container terminal at Mundra Port. As a joint venture with CMA Terminals (CMAT), a member of France’s CMA CGM group. CMA CGM is one of the world’s leading container carriers.

An Overview of the History of Adani Ports & Special Economic Zone Ltd.

Both CMA CGM and APSEZ will jointly operate the container terminal for 15 years. There is an option for the partnership to extend the contract twice for 10 more years. APSEZ announced in June 2017, the construction of 1st berth at India’s premier international transshipment project has begun. In choosing the port location, the goal is to tap into the potential of a multi-cargo deep-water international port. We have entered into an agreement with Adani International Container Terminal Private Limited (AICTPL). This is a Joint Venture to sublease a new terminal CT-3 Extension besides CT-3 during this year. As of November 1, 2017, the terminal commenced operations. On 18th August 2017, the Hon’ble National Company Law Tribunal sanctioned the scheme of arrangement between Adani Ports and Special Economic Zone Limited, Adani Harbour Services Private Limited (a transferee company), and their shareholders and creditors.

The History of Adani Ports & SEZ Ltd.

The Transfer Scheme with effect from April 1 2016 provided for the transfer and vesting of Marine Business Undertaking of the Company to the Transferee Company as a going concern on a lump-sum basis. The Company was established on 17th May 2017 to Mundra International Gateway Terminal Private Limited as a wholly-owned subsidiary. With an objective to develop, operate, and maintain ports and related infrastructure facilities. The Company incorporated Adani International Terminals Pte Ltd. Singapore. On 30th June 2017, as a wholly-owned subsidiary with the objective of developing, operating, and maintaining ports. And also related infrastructure facilities. The company acquired a 100% stake in Blue Star Realtors Private Limited in April 2018, a wholly-owned subsidiary of Adani. The company has 58 subsidiaries (including step-down subsidiaries), 2 joint ventures, and one associate company as of March 2019.

History of the Adani Ports & SEZ Company

It signed definitive agreements in the first quarter of FY 2019 to acquire up to 100% of Innovative B2B Logistics Solutions Pvt. Ltd., an entity controlled by private equity firm True North. During its meeting on the 4th of June 2019, the Board approved a plan for the Company to buy back its fully paid-up equity shares of face value Rs 2 each from eligible equity shareholders of the Company for an amount not exceeding Rs 1960 crore. The buyback offer included a purchase of 39200000 equity shares, which represented 1.89% of the paid-up equity share capital of the company for Rs 500 each. Through the ‘Tender offer’ route, the buyback was offered to all eligible equity shareholders of the company as of the record date (21st June 2019). We completed the buyback procedures on 30th September 2019 and extinguished 39200000 shares.

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Sea Custom Clearance Services

Provides seamless services for sea customs clearance across international ports for export-import shipments.

Adani Ports & SEZ History

The Company has issued 2800 graded listed secured redeemable non-convertible debts (NCDs) with a face value of Rs 1000000 each. The NCDs amounted to Rs 280 crore and were listed on the Wholesale Debt Market Segment of the Bombay Stock Exchange Limited. By 31 March 2020, the company has 67 subsidiaries (including step-down subsidiaries), 2 joint ventures, and 1 associate company. With respect to Krishnapatnam Port Company Limited, the company acquired a 75% controlling stake in FY2020.

History of the Adani Group's Ports and Special Economic Zones

The total Capex incurred at the ports and for the acquisition of land and rakes for developing our logistics business was Rs 3615 crore, which was in line with our guidance. During the FY 2021, the Board of Directors at its meeting held on 03 March 2021. They had approved the composite scheme of arrangement between Adani Ports and Special Economic Zone Ltd. The Brahmi Tracks Management Services Pvt Ltd and Adani Tracks Management Services Pvt Ltd and Sarguja Rail Corridor Pvt Ltd and their respective shareholders and creditors with other applicable provisions.

A Brief History of Adani Ports & SEZ

The amalgamation of Brahmi with APSEZ with effect from the appointed date 1 is 1st April 2021. Upon the appointment of date 2, i.e. 2nd April 2021, Adani Tracks and Sarguja will be merged. Transfer of the Divestment Business Undertaking (i.e. Mundra Rail Business) on a lump sum basis by APSEZ to Sarguja as a going concern with effect from the appointed date 2 i.e. 2nd April 2021. The name of Sarguja will be changed to Adani Tracks Management Services Pvt. Ltd., and other matters connected to the Scheme shall also be changed. Following the shareholders’ approval at the Extraordinary General Meeting held on 06 April 2021.

About Adani Ports & SEZ

The Company issued 10000000 equity shares of Rs 2 each for Rs 800/equity share (at a premium of Rs 798 per equity share) aggregating to Rs 800 crore to Windy Lakeside Investment Limited (an affiliate of Warburg Pincus) as part of a preferential issue on a private placement basis on 19th April 2021. During 2020-21, the Company has issued 30000 rated listed secured non-convertible debentures. Each has a face value of Rs 10 lakh. It aggregates to Rs 3000 crore on a private placement basis listed on the Wholesale Debt Market Segment of BSE Ltd. At the end of March 2021, the company had 77 subsidiaries and 7 joint ventures. During the fiscal year 2021, the company expanded its operational capacity by 15% (as it stood on 31st March 2021).

Adani Ports & SEZ Corporation's History

After acquiring 75% of the Krishnapatnam Port. This company entered into a definitive agreement. It acquires the remaining 25% stake for Rs 13675 crore. Besides purchasing the Dighi port for Rs 705 crore. Adani also announced the acquisition of the Sarguja Rail Corridor and Gangavaram Port. It has also incorporated a wholly-owned subsidiary called Adani International Ports Holdings Pte Ltd. as of 16 June 2021. Adani Gangavaram Port Pvt. Ltd. was formed on 14 July 2021 as a wholly-owned subsidiary of the company. It acquired a 100% stake in AYN Logistics Infra Pvt. Ltd. during the quarter that ended on 30 June 2021.

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