HYDERABAD: Aurobindo Realty and Infrastructure Pvt Ltd will acquire a 41.12% stake in Kakinada Seaports Ltd, the second port investment in four months by the real estate and infrastructure venture formed by the promoters of Mumbai-listed Aurobindo Pharma Ltd. 

 

Aurobindo Realty and Infrastructure will buy the stake from Kakinada Infrastructure Holdings Pvt Ltd, one of the original promoters of Kakinada Seaports, multiple sources said. The acquisition will make Aurobindo Realty and Infrastructure the single largest shareholder in Kakinada Seaports. Other shareholders in the port operating company, includes VR Investments Pvt Ltd (30.40%), Konsortium Ports Pte Ltd (17.35%) and South India Infrastructure Development Company Pvt Ltd (11.13%).

 

The proposed stake purchase was cleared by the Andhra Pradesh government in December, clearing the decks for signing the deal.

 

“Government hereby accord permission to accept the request of Kakinada Seaports Limited for sale of 41.12% shareholding held by Kakinada Infrastructure Holdings Private Limited in Kakinada Seaports to Aurobindo Realty and Infrastructure Private Limited,” R Karikal Valaven, Special Chief Secretary, AP Government, wrote in an order.