InvestorQ : What is the purpose behind Adani Ports raising Rs.900 crore via NCDs?
Arusha Ray made post

What is the purpose behind Adani Ports raising Rs.900 crore via NCDs?

Answer
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2 weeks ago


Adani Ports and SEZ announced that it had raised Rs.900 crore via non-convertible debentures or NCDs sold to select institutions on a private placement basis. Adani SEZ had raised Rs.900 crore by allotment of 9000 secured NCDs of face value Rs.1 million each.

The NCDs are proposed to be listed on the wholesale debt market or WDM segment of the Bombay Stock Exchange. Adani Ports is already the largest logistics player in India with a total of 11 strategically located ports and terminals.

Adani SEZ represents 24% of the total port capacity in India and includes Mundra, Dahej, Kandla and Hazira in Gujarat, Dhamra in Odisha, Mormugao, Vizag and Ennore Port in Tamil Nadu. It is also developing a transhipment port at Vizhinjam, Kerala as well as a container terminal at Myanmar