Adani Ports taps its largest ever domestic bond: ₹5,000 crore 15-year NCD from LIC — all you need to know
Adani Ports and Special Economic Zone (APSEZ) on May 30 said it has successfully raised ₹ 5,000 crore through 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, and is locked at 7.75 per cent coupon rate, backed by Adani Ports' 'AAA/Stable' domestic credit rating, the company informed the exchanges.
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.
Debentures are long-term financial instruments that companies issue to raise more money from investors.
'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. According to the statement, the Proceeds will fund a proposed buyback of Adani Port's US Dollar bonds, pending board approval on May 31, 2025.
A full subscription would extend the average debt maturity significantly longer—from 4.8 years to 6.2 years.
Adani Ports has set a target of handling 1 billion tonnes of cargo by FY30, more than twice the number in FY25.
'With consistently improving debt repayment timelines and the cost of capital, Adani Ports gains greater access to patient capital and higher liquidity, crucial for long-term planning and large-scale projects,' the statement said.
APSEZ has seven strategically located ports and terminals on the west coast and eight on the East coast, representing 27 per cent of the country's total port volumes.
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