Stake sale at premium valuations a positive for Adani Ports

The stock of Adani Ports and SEZ (Adani Ports) hit its all-time high levels intraday after the company announced that Windy Lakeside Investment, an affiliate of Warburg Pincus has taken half a per cent stake via the preferential issue route. The issue priced at Rs 800 a share was made at a 7 per cent premium to Friday’s close. Most brokerages view the deal as a positive outcome. Analysts at Morgan Stanley while indicating that the deal considers a  stake sale of only 0.5 per cent, it comes at a premium and highlights the confidence of the investor in the company. Moreover, the.....

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