Adani Ports Raises ₹5000 crore Via 15-Year NCD from LIC

Adani Ports and Special Economic Zone raised ₹5,000 crore via a 15-year Non-Convertible Debenture (NCD), fully subscribed by the Life Insurance Corporation of India (LIC).

The debentures will be listed on the BSE, attracting a coupon rate of 7.75%, backed by Adani Ports' ‘AAA/Stable’ domestic credit rating.

What did the management say?

Ashwani Gupta, Whole-time Director & CEO, Adani Ports noted that this “isn't merely a financing exercise”, but a proactively developed capital management plan for Adani Ports. “This plan is designed to support APSEZ with its long-term vision to become the world’s largest integrated transport utility,” Gupta said.

“The issue shows Adani Port’s deep access to long-term capital from diversified sources at attractive pricing and significantly enhances APSEZ's debt maturity profile. It highlights APSEZ access to domestic markets for its longest tenure issuance till date, and one of the longest in Indian capital markets history,” the company release said.