Adani Ports raises Rs 100 crore via NCD issue
This is the company’s second NCD issue in less than a week.
Mumbai: Adani Ports and SEZ has raised Rs 100 crore through allotment of non-convertible debentures on a private placement basis, the company informed the bourses on Monday.
This is the company’s second NCD issue in less than a week. On May 27, the company said that it has raised Rs 500 crore through issue of NCDs.
The Adani Group has been raising funds to elongate its debt tenure and reduce interest cost. The group placed seven issuances totalling $4 billion in 2019-20, across its businesses. Adani Ports and SEZ undertook a capital management programme under which it increased its debt maturity profile to five years, with more focus on unsecured debt.
In the statement on Monday, the Gautam Adani-led company said that it allotted 1,000 rated, listed, secured, redeemable, NCDs of face value Rs 10,00,000 each. These NCDs would be listed on the Wholesale Debt Market segment of BSE Limited.
This is the company’s second NCD issue in less than a week. On May 27, the company said that it has raised Rs 500 crore through issue of NCDs.
The Adani Group has been raising funds to elongate its debt tenure and reduce interest cost. The group placed seven issuances totalling $4 billion in 2019-20, across its businesses. Adani Ports and SEZ undertook a capital management programme under which it increased its debt maturity profile to five years, with more focus on unsecured debt.
In the statement on Monday, the Gautam Adani-led company said that it allotted 1,000 rated, listed, secured, redeemable, NCDs of face value Rs 10,00,000 each. These NCDs would be listed on the Wholesale Debt Market segment of BSE Limited.