MARITIMEGATEWAY 728X100

Adani Ports to raise $600 million via non-convertible debentures

India’s largest private port operator Adani Ports and Special Economic Zone said it will raise 50 billion rupees ($599.8 million) by issuing non-convertible debentures and 2.5 billion rupees through non-cumulative redeemable preference shares.
Facebook
Twitter
LinkedIn
WhatsApp
Email

The company, which operates 13 ports and terminals in the country including its largest container handling port, Mundra in the western Indian state of Gujarat, said a majority of the funds issued will be used for refinancing of existing debt.

Adani Group companies are starting to raise funds for capital expenditure, and have plans to spend seven trillion rupees over the next decade on infrastructure projects.

Meanwhile, the company 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).

Facebook
Twitter
LinkedIn
WhatsApp
Email

Subscribe to Our Newsletter

Share your views in comments


jnpt ad
Gateway Media Private Limited
Join Our Newsletter

Latest Issue