Ahmedabad: Adani Ports and Special Economic Zone are gearing up for a bond issuance amounting to ₹10 billion ($120 million) through private placement, marking their first foray into the local currency bond market since 2021. The proposed bond issue comprises a base size of ₹5 billion, with an additional ₹5 billion option for oversubscription, as disclosed by informed sources.
Flagship entity Adani Enterprises Ltd. had previously ventured into local-currency bonds in July, raising ₹12.5 billion. Adani Ports, last seen in the rupee bonds market in 2021, has been granted approval for a private placement debt issuance of up to ₹50 billion, with the intended utilization of funds for capital expenditure, refinancing existing liabilities, and general corporate purposes.
This move aligns with Adani Group’s strategic financial decisions, showcasing resilience despite external scrutiny and challenges.
By Bloomberg
