Adani Ports and Special Economic Zone Limited (NSEI:ADANIPORTS) is in advanced negotiations to acquire Shapoorji Pallonji Group's (SP) Gopalpur Ports Limited in Odisha, as per an Economic Times report. The potential deal, estimated at INR 11,000 million to INR 12,000 million in equity value, aligns with Adani Port's strategic expansion plans along both the eastern and western maritime borders. The proposed acquisition marks a strategic move for Adani Ports, potentially becoming their sixth multi-purpose facility on the eastern coast.

With an existing capacity of around 247 million tonnes (MT), this acquisition would further solidify their presence in this region. Presently, SP Ports Maintenance holds a majority stake of 56% in Gopalpur Ports, with the remaining ownership by Orissa Stevedores (OSL). However, uncertainties loom over the finalization of the negotiations.

Reports suggest a divergence in valuations, with JSW Infrastructure Limited (NSEI:JSWINFRA) previously in talks with the Mistry family for the same asset at a higher enterprise valuation of INR 30,000 million. The enterprise value of Gopalpur Port stands at $600 million to $650 million (INR 50,000 million), with SP Group's equity value estimated at $240 million to $260 million (INR 20,000 million), as per the report. Care Edge, a credit rating firm, states the port's long-term bank facilities stand at INR 14,320 million as of February 2023.