Adani Ports Raises ?5,000 Crore via 15-Year Non-Convertible Debentures

Ahmedabad – Adani Ports and Special Economic Zone Ltd (APSEZ) announced on Friday that it has successfully raised ?5,000 crore through the issuance of 15-year Non-Convertible Debentures (NCDs).

The issue, backed by APSEZ’s strong financials and its ‘AAA/Stable’ domestic credit rating, was fully subscribed by the Life Insurance Corporation of India (LIC) and carries a competitive annual coupon rate of 7.75%. The debentures will be listed on the Bombay Stock Exchange (BSE).

“This is more than just a fundraising exercise; it is a strategic execution of APSEZ’s carefully crafted Capital Management Plan,” said Ashwani Gupta, Whole-time Director and CEO of APSEZ. “The plan focuses on maintaining conservative leverage, extending the debt maturity profile, reducing borrowing costs, and diversifying funding sources — all in support of our long-term vision to become the world’s largest integrated transport utility.”

APSEZ aims to handle 1 billion tonnes of cargo annually by FY2030, more than double the volume projected for FY2025. In addition to its core port operations, the company has laid out ambitious plans to expand its logistics and marine services businesses.

This issuance marks APSEZ’s longest-tenure borrowing in domestic markets to date and is among the longest in Indian capital markets history. The proceeds will be used to fund a proposed buyback of APSEZ’s US dollar-denominated bonds, pending board approval on May 31, 2025.

A full subscription and execution of the buyback would significantly extend APSEZ’s average debt maturity — from 4.8 years to 6.2 years — and enhance its financial flexibility.

By improving debt maturity timelines and reducing its cost of capital, APSEZ strengthens its access to long-term, stable funding. This positions the company well for large-scale projects and long-range strategic initiatives. It also creates room for potential acquisitions and allows resources to be reallocated toward innovation, technology upgrades, and operational efficiency improvements.

Adani Ports remains India’s largest port developer and operator, with a presence at seven ports and terminals on the west coast and eight on the east coast, accounting for 27% of the country’s total port traffic.

With inputs from IANS