Adani Ports and Special Economic Zone Ltd (APSEZ) on Friday said it has successfully raised Rs 5,000 crore through a 15-year Non-Convertible Debenture (NCD).
Backed by APSEZ's strong financials and a ‘AAA/Stable' domestic credit rating, the issue locked in a competitive coupon rate of 7.75 per cent per annum and was fully subscribed by the Life Insurance Corporation of India (LIC). The debentures will be listed on the BSE.
“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 Ashwani Gupta, Whole-time Director and CEO, APSEZ.
Adani Ports has set a target of handling 1 billion tonnes of cargo by FY30, more than 2x the FY25 number. Beyond its port operations, the company has also laid out ambitious plans to expand its logistics and marine businesses.
The transaction highlights APSEZ access to domestic markets for its longest tenure issuance till date, and one of the longest in Indian capital markets history.
The proceeds will fund a proposed buyback of APSEZ’s US Dollar bonds, pending board approval on May 31 2025. A full subscription would extend the average debt maturity significantly longer — from 4.8 years to 6.2 years.
With consistently improving debt repayment timelines and the cost of capital, APSEZ gains greater access to patient capital and higher liquidity, crucial for long-term planning and large-scale projects.
Moreover, it also offers financial flexibility for inorganic opportunities and enables reallocation of resources towards innovation, technology upgrades, and enhancing operational efficiencies.
Adani Ports is the largest port developer and operator in India with seven strategically located ports and terminals on the west coast and eight on the East coast, representing 27 per cent of the country's total port volumes.
3 dead as incessant rains, waterlogging disrupt life in NE states
Three people, including a child, died in three northeastern states while normal life in most of the states in the region was badly affected due to intermittent light to moderate rain triggered by a depression in the Bay of Bengal, officials said on Friday.
CM Dr Manik Saha urges TCA to train rural players for national level cricket; inaugurates blood donation camp
Chief Minister Dr Manik Saha on Friday inaugurated a blood donation camp here at Agartala, organised by the Tripura Cricket Association and urged upon the budding cricketers of the state to stay focused on their goal. Dr Saha said that the key to success in sports is regular practice.
Woman held with pistol, drugs in Tripura; probe underway
A pistol, a few live cartridges and 7,800 highly addictive methamphetamine tablets, also known as Yaba tablets, valued at approximately Rs 20 lakh, were recovered from her possession.
Bomb blast damages tourism infrastructure at Jampui Hills; Sushanta chairs high-level meeting
The state tourism minister Sushanta Chowdhury on Friday chaired a high level meeting with the local MLAs and officials at Eden Tourist Lodge conference hall and expressed his concern over the bombing incident at Jampui Hills, which damaged tourism infrastructures.
CM directs disaster management authority to remain vigil
Tripura Chief Minister Prof. Dr. Manik Saha today said that he has instructed the Disaster Management Authority to remain prepared and maintain strict vigilance amid heavy rainfall that has led to rising river water levels.
SC orders NBE to conduct NEET-PG 2025 in single shift
The Supreme Court on Friday deprecated the National Board of Examinations (NBE) practice to conduct the National Eligibility-cum-Entrance Test (NEET)-PG 2025 examination in two shifts.
New dawn of social justice began under NDA rule: PM Modi mocks Cong-RJD in Bihar
Prime Minister Narendra Modi on Friday lambasted the Congress and Rashtriya Janata Dal (RJD), holding them responsible for decades of backwardness in Bihar and said that the new dawn of progress began in the state only after the BJP-led National Democratic Alliance (NDA) came to power.
Five killed in blast at illegal firecracker factory in Punjab's Muktsar
At least five people were killed and 34 injured on Friday in a blast at a double-storey illegal firecracker factory located on the outskirts of a village in Punjab’s Muktsar district, police said.