Latest News | Adani Ports to Raise Rs 5,250 Crore
Get latest articles and stories on Latest News at LatestLY. Adani Ports and Special Economic Zone (APSEZ) on Tuesday announced that it will raise more than Rs 5,250 crore by issuing non-convertible debentures and non-cumulative redeemable preference shares on private placement basis.
New Delhi, Dec 12 (PTI) Adani Ports and Special Economic Zone (APSEZ) on Tuesday announced that it will raise more than Rs 5,250 crore by issuing non-convertible debentures and non-cumulative redeemable preference shares on private placement basis.
In a stock exchange filing, APSEZ said, "the board of directors of the company has given their in-principle approval for issuance of non-convertible debentures for capex/refinancing of existing debt and general corporate purpose for an aggregate amount not exceeding Rs 5,000 crore in one or more tranches on private placement basis."
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The firm also said it will issue non-cumulative redeemable preference shares on a private placement basis for an aggregate amount not exceeding Rs 250.19 crore in one or more tranches on a private placement basis.
In November, the billionaire Gautam Adani-owned company recorded strong cargo volumes of around 36 MMT (million metric tonne) -- a robust 42 per cent on-year increase.
Adani Ports and Special Economic Zones, the flagship transportation arm of the diversified Adani group, is India's largest private ports and logistics company.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)