New Delhi: Adani Ports and Special Economic Zone Ltd (APSEZ) has successfully raised Rs 5,000 crore through a 15-year Non-Convertible Debenture (NCD). Life Insurance Corporation (LIC) fully subscribed the Rs 5,000 crore issue by Adani Ports APSEZ.
The issue is backed by APSEZ’s strong financials and a ‘AAA/Stable’ domestic credit rating. Rs 5,000 crore was raised through the sale of bonds maturing in 15 years at 7.75 per cent annual coupon. The debentures will be listed on the BSE.
APSEZ has planned to consider a US dollar bond buyback as robust business growth has given it ample cash flows.
The company stated that the proceeds will fund a proposed buyback of a US dollar bond buyback as robust business growth has given it ample cash flows, which is pending board approval on 31 May 2025. A full subscription would extend the average debt maturity significantly longer—from 4.8 years to 6.2 years.
“This isn’t merely a financing exercise; it’s a proactive execution of a meticulously developed Capital Management Plan for APSEZ, focused on maintaining conservative leverage, extending the debt maturity profile, lowering cost, and diversifying funding sources. This plan is designed to support APSEZ with its long-term vision to become the world’s largest integrated transport utility,” said Mr Ashwani Gupta, Whole-time Director & CEO, APSEZ.
APSEZ has been working towards expanding its business of cargo handling. The firm has set a target of handling 1 billion tonnes of cargo by FY30, more than 2x the FY25 number.
Meanwhile, Adani Ports shares were trading at Rs 1,432 apiece at 1:20 pm on May 30, 2205. The Adani Group stock has gained nearly 18 percent in the last one month. IN August 2024, the counetr had reached the level of Rs 1588.
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Adani Ports and Special Economic Zone (APSEZ) successfully raised Rs 5,000 crore through a 15-year Non-Convertible Debenture (NCD) issue fully subscribed by LIC. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
