Franklin Templeton Investment Funds has acquired 2.97 million equities, amounting to 0.7% of Gujarat Pipavav Port (GPPL). The company has bought the same for Rs 55.75 apiece, valuing the deal to Rs 16.59 crore.
Earlier in May this year, Gujarat Pipavav Port’s long term credit rating had been reaffirmed by the credit rating agency, CRISIL at ‘A+’ with Stable Outlook , while the short term credit rating of the company had been upgraded to A1+ from A1.
Gujarat Pipavav Port is the developer and operator of APM Terminals Pipavav, which has multi-cargo and multi-user operations. Promoter APM Terminals Mauritius currently holds 57.9% stake in the company, pre issue. Among institutions, IDBI Trusteeship Services and IDBI Bank are the major shareholders with 10.2% and 8.9% stake.
| Company Name | CMP |
|---|---|
| Adani Ports &Special | 1760.30 |
| JSW Infrastructure | 283.55 |
| Gujarat Pipavav Port | 158.80 |
| Paradeep Parivahan | 158.35 |
| View more.. | |
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