Shapoorji Pallonji plans to acquire 51 per cent stake in Karaikal Port

Shapoorji Pallonji and Company Limited is reportedly planning to acquire a 51 per cent stake in KPPL. However, no financial details have been disclosed as the deal is in the initial stages. Karaikal port will use the capital raised through the equity stake sale to pay off a part of its debt, and to infuse capital in its projects.