Setting Sail for Expansion: Adani Ports Eyes New Funding Channel with NCD Proposal

Adani Ports and Special Economic Zone Limited (APSEZ) has said its Board of Directors will be sitting on May 22, 2025 to deliberate on a proposal for issue of Non-Convertible Debentures (NCDs) on private placement basis, in one or more tranches. The The company made this announcement in a regulatory filing today and also added that the NCDs may be issued in one or multiple tranches subject to required approvals and market conditions.

This is part of APSEZ's continuous efforts to rationalize its capital structure and raise long-term capital for business growth and working capital needs. The company has been in the habit of accessing the debt market through NCDs, which are preferred due to their return certainty and flexibility to structure in different ways.

The quantum, term, and coupon rate of the proposed NCDs will be determined by the Board during the meeting. The issue will strengthen the company's financials and equip it with more resources to pursue future growth strategies. The investors and stakeholders are requested to await further communication after the Board meeting, when a detailed resolution is expected.

The company will be open and transparent and will inform the exchanges and the stakeholders the result of the deliberations of the Board in due course.

Source: Moneycontrol