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India: Adani Ports raises 600 million USD through non-convertible debentures

By PortalPortuario Redaktion/Reuters Agency

@PortalPortuario


India’s largest private port operator, Adani Ports and Special Economic Zoneannounced that it will raise Rs 50,000 crore ($599.8 million) through the issue of non-convertible debentures and Rs 2,500 crore ($29,973,481) through non-cumulative redeemable preference shares.

The company, which operates 13 ports and terminals in the country, including the largest container handling port facility, Mundra in the western Indian state of Gujarat said that the majority of the issued funds will be used to refinance existing debt.

The companies of Group Adani They are starting to raise funds for capital expenditure and have plans to spend seven trillion rupees over the next decade on infrastructure projects.

Meanwhile, the company is in negotiations to acquire Puerto de Gopalpur of the real estate conglomerate Shapoorji Pallonji Group (SP Group) in Odisha for around Rs 11-12 billion ($132-144 million), The Economic Times reported last week.

Adani Ports shares have more than doubled from multi-year lows hit after inform Hindenburg. They were last up nearly 1%, bringing their year-to-date gains to 27%.


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