CCI approves acquisition of equity shareholding of Gangavaram Port by APSEZ The Competition Commission of India (CCI) has approved acquisition of 89.6 percent of equity shareholding of Gangavaram Port (GPL) by Adani Ports and Special Economic Zones (APSEZ) under Section 31(1) of the CompetitionAdani Ports and Special Economic Zone (APSEZ) has incorporated a wholly-owned subsidiary company Adani Gangavaram Port (AGPPL).

The authorised share capital of Adani Gangavaram Port is Rs five lakh and paid-up share capital is Rs five lakh.

AGPPL belongs to the port industry and is yet to commence its business operations.

The company has incorporated as a wholly-owned subsidiary to construct, develop, maintain, build, equip, hire or otherwise deal with ports, shipyards, jetties, harbours, docks, ship breaking, ship repair, ship building, etc at any port in India or elsewhere.

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