Adani Ports Raises ₹5,000 Crore via 15-Year NCD Fully Subscribed by LIC

Adani Ports and Special Economic Zone (APSEZ) has successfully raised ₹5,000 crore through a 15-year Non-Convertible Debenture (NCD) issuance, fully subscribed by the Life Insurance Corporation of India (LIC). Listed on the BSE, the debentures carry a coupon rate of 7.75% and are backed by Adani Ports’ strong ‘AAA/Stable’ domestic credit rating. This marks APSEZ’s longest-tenure issuance and one of the longest in Indian capital market history.

Ashwani Gupta, Whole-time Director and CEO of Adani Ports, stated that the initiative is part of a broader capital management strategy, aimed at supporting the company’s long-term ambition of becoming the world’s largest integrated transport utility. The proceeds from the issuance are expected to fund a proposed buyback of Adani Ports’ US Dollar bonds, pending board approval on May 31, 2025. This move is set to enhance the company’s debt maturity profile significantly, extending the average tenure from 4.8 years to 6.2 years.

Adani Ports, which currently handles around 27% of India’s total port volumes through its 15 ports and terminals across both coasts, is targeting cargo handling of 1 billion tonnes by FY30—more than double the current volume. With improved access to long-term capital and liquidity, the company aims to bolster its large-scale infrastructure and logistics projects.

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