Ahmedabad— Adani Ports and Special Economic Zone Ltd (APSEZ) announced on Friday that it has successfully raised ₹5,000 crore through a 15-year Non-Convertible Debenture (NCD), marking one of the longest-tenure domestic issuances in Indian capital markets.
The NCDs, carrying a competitive coupon rate of 7.75% per annum, were fully subscribed by the Life Insurance Corporation of India (LIC). The issue, backed by APSEZ’s strong financial fundamentals and a ‘AAA/Stable’ credit rating, will be listed on the Bombay Stock Exchange (BSE).
“This isn’t just a financing transaction—it’s a strategic execution of our comprehensive Capital Management Plan,” said Ashwani Gupta, Whole-time Director and CEO of APSEZ. “We’re focused on maintaining conservative leverage, extending our debt maturity profile, reducing capital costs, and diversifying funding sources. These steps align with our long-term vision of becoming the world’s largest integrated transport utility.”
The proceeds from the NCD issuance are earmarked for a proposed buyback of APSEZ’s U.S. dollar-denominated bonds, subject to board approval on May 31, 2025. If completed, the buyback is expected to extend APSEZ’s average debt maturity from 4.8 years to 6.2 years, significantly strengthening its long-term financial profile.
The company’s capital strategy also positions it for increased financial flexibility, allowing for future acquisitions and investment in innovation, technology upgrades, and operational efficiency improvements.
APSEZ has ambitious growth targets, including handling 1 billion tonnes of cargo annually by FY2030—more than double its projected volume for FY2025. The company is also expanding its logistics and marine service businesses to complement its core port operations.
Currently, Adani Ports is India’s largest port developer and operator, with a network of 15 strategically located ports and terminals—seven on the west coast and eight on the east—accounting for 27% of the nation’s total port volumes. (Source: IANS)
