Adani Ports Raises Rs 500 Crore Via Bond Issue

Adani Ports and Special Economic Zone Ltd. raised Rs 500 crore by issuing non-convertible debentures on a private-placement basis on Tuesday.

India's largest port operator allotted 50,000 rated, secured, listed and redeemable NCDs of the face value of Rs 1 lakh each, according to an exchange filing.

The company accepted bids aggregating to Rs 500 crore for two listed bonds, with one maturing in five years and the other in 10 years. The NCDs will be listed on the wholesale debt market segment of the BSE.

Billionaire Gautam Adani's firm had approved plans to raise up to Rs 5,000 crore via bonds on Jan. 3.

Shares of Adani Ports closed 2.84% higher at Rs 1,202 apiece on the NSE compared with a 0.15% advance in the benchmark Nifty 50.