<p>Bengaluru: India's largest private port operator Adani Ports and Special Economic Zone is in early talks to acquire real-estate conglomerate Shapoorji Pallonji Group's (SP Group) Gopalpur port in Odisha for about 11-12 billion rupees ($132-$144 mln), The Economic Times reported on Thursday.</p><p>The deal could potentially be Adani Ports' sixth acquisition of a port along India's eastern coast, where it already has about 247 million tonnes of capacity, the newspaper daily added.</p>.Adani Group stocks end up to 20% higher; 3 firms hit 52-week high. <p>The Gopalpur port's enterprise value is 50 billion rupees, and due diligence for its buyout is in process, the <em>ET</em> report said citing people aware of the talks.</p><p>The buyout is part of the Gautam Adani-led group's strategy to own ports across the western and eastern water margins.</p><p>The Adani Group and SP Group did not immediately respond to Reuters' request for comment.</p><p>In August, Deloitte resigned as auditor of Adani Ports, the first such move since U.S. short-seller Hindenburg Research flagged high debt levels and alleged irregularities at the group.</p><p>The conglomerate's seven listed firms lost about $150 billion of their combined market capitalisation after the Hindenburg report and have recovered only a part of those losses after paying down some debt.</p><p>The Adani Group has denied allegations from Hindenburg. </p>
<p>Bengaluru: India's largest private port operator Adani Ports and Special Economic Zone is in early talks to acquire real-estate conglomerate Shapoorji Pallonji Group's (SP Group) Gopalpur port in Odisha for about 11-12 billion rupees ($132-$144 mln), The Economic Times reported on Thursday.</p><p>The deal could potentially be Adani Ports' sixth acquisition of a port along India's eastern coast, where it already has about 247 million tonnes of capacity, the newspaper daily added.</p>.Adani Group stocks end up to 20% higher; 3 firms hit 52-week high. <p>The Gopalpur port's enterprise value is 50 billion rupees, and due diligence for its buyout is in process, the <em>ET</em> report said citing people aware of the talks.</p><p>The buyout is part of the Gautam Adani-led group's strategy to own ports across the western and eastern water margins.</p><p>The Adani Group and SP Group did not immediately respond to Reuters' request for comment.</p><p>In August, Deloitte resigned as auditor of Adani Ports, the first such move since U.S. short-seller Hindenburg Research flagged high debt levels and alleged irregularities at the group.</p><p>The conglomerate's seven listed firms lost about $150 billion of their combined market capitalisation after the Hindenburg report and have recovered only a part of those losses after paying down some debt.</p><p>The Adani Group has denied allegations from Hindenburg. </p>