Adani Ports raises Rs 500 cr via bonds

New Delhi: Adani Ports and Special Economic Zone (APSEZ) on Tuesday raised Rs500 crore by issuing non-convertible debentures on private placement basis.

Billionaire Gautam Adani’s firm in a regulatory filing said it has accepted bids aggregating to Rs500 crore for two listed bonds, with one maturing in five years and the other in 10 years.

“The company raised Rs500 crore today i.e. January 9, 2024, by allotment of 50,000 rated, secured, listed, redeemable, non-convertible debentures (NCDs) of face value of Rs1,00,000 each on private placement basis,” it said.

The NCDs will be listed on the wholesale debt market segment of BSE. APSEZ is the largest port developer and operator in India with 7 strategically located ports and terminals on the west coast and as many ports and terminals on the east coast, representing 26 per cent of the country’s total port volumes. Adani Green Energy has announced a plan to ensure redemption of its $750 million bonds eight months ahead of their maturity, in an effort to boose investor confidence in the company’s financial health.

The Adani Group company had raised $750 million through issuance of NCDs (non-convertible debentures) which will mature in September this year. “Adani Green Energy Limited (AGEL) today announced the redemption plan for the $750 million 4.375 notes due 09 September 2024 (Holdco Notes),” the company said in a statement.

Sharing a break-up, AGEL said a $169 million has been put through the reserve accounts and internal accruals, while another $300 million has recently been invested by TotalEnergies through a joint venture. The remaining $281 million has been secured through promoter preferential allotment.