All Aboard the Adani Express: ₹60,000 Crore NCD Plan Fuels Growth Ambitions

Adani Ports and Special Economic Zone (APSEZ), India’s largest private port operator, has announced plans to raise up to ₹60,000 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis. The board will meet today to finalize the terms of this major fundraising initiative, which is aimed at fueling capital expenditure, refinancing existing debt, and supporting general corporate purposes.

Key Highlights:

The proposed NCD issue marks one of the largest debt market moves by an Indian infrastructure giant, signaling Adani Ports’ aggressive growth ambitions and commitment to financial discipline.

Funds raised will be channelled into expanding port infrastructure, logistics parks, and potential acquisitions, while also allowing the company to refinance older, higher-cost borrowings at more competitive rates.

This strategy enables Adani Ports to access long-term funding without diluting equity, preserving shareholder value and enhancing financial flexibility.

The NCDs, to be issued in multiple tranches, will offer fixed-income investors regular interest payouts, with the tenure and pricing to be determined based on market conditions.

The move comes as Adani Ports continues to regain lender confidence, recently securing a $150 million loan from DBS Group Holdings for capex and raising $750 million through offshore bonds for strategic acquisitions.

With robust cash flows and a stable margin profile, the company is well-positioned to leverage new capital for scaling operations, digitalizing cargo management, and maintaining its leadership in India’s maritime and logistics sector.

All eyes are now on the outcome of the board meeting, as this landmark NCD issue is set to reshape the debt market and reinforce Adani Ports’ dominance in the infrastructure landscape.

Sources: Indira Securities, Business Times, Financial Express