Adani Ports is Considering using NCDs to raise funds

7 Dec 2023 , 04:05 AM

Adani Ports and Special Economic Zone Ltd. will take a closer look at a plan to issue bonds on December 12. According to the company’s exchange filing, the board of directors will convene on December 12 to deliberate on the proposal to issue non-cumulative redeemable preference shares and non-convertible debentures in one or more tranches. The trading window will be closed starting on December 7 and will be closed for 48 hours until the meeting’s conclusion.

A plan to issue bonds to raise money would be taken into consideration by Adani Ports and Special Economic Zone Ltd.

According to the company’s exchange filing, the board of directors will convene on December 12 to deliberate on the proposal to issue non-cumulative redeemable preference shares and non-convertible debentures in one or more tranches.

As per the rule of conduct prohibiting insider trading, the trading window will be locked from December 7 until 48 hours after the meeting on December 12 ends.

The majority of Adani Group companies saw a spike in share prices due to a number of factors, including the Supreme Court’s findings, U.S. finance for the port, and general market optimism.

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