Adani Ports plans to use NCDs to raise up to Rs 6,000 crore

The boards of Adani Ports and Special Economic Zone Ltd., has approved the raising of up to Rs 6,000 crore for various purposes. The board has given its approval for the issuance of Non-Convertible Debentures for capital expenditure or for the refinancing of existing debt and general corporate purpose. The aggregate amount will not be exceeding Rs 6,000 crore in one or more tranches on a private placement basis. The type of securities proposed to be issued are secured, rated, listed, redeemable, non-convertible debentures through private placement.

The NCDs issued are proposed to be listed on BSE and or NSE, and the terms of the issue may include ‘call’ and ‘put’ options as determined from time to time. The coupon interest offered, schedule of payment and principal along with the tenure of the instrument is set to be determined from time to time at the time of issue. Adani Ports earlier posted a 48% rise in its consolidated net profit to Rs 3,014 crore for the January-March quarter of fiscal 2025, as compared to Rs 2,039 crore in the year-ago period. The revenue of the Adani Group company was up 23.1% year-on-year to Rs 8,488.44 crore in the January-March period, compared to Rs 6,896.5 crore in the year-ago period.