Adani Ports board to meet Dec 12 to consider raising funds

BL Mumbai Bureau Updated - December 06, 2023 at 09:02 PM.

Raising of funds through bonds would be done next year, group CFO had earlier said

The port operator had record a 42 per cent rise in cargo volumes in November handling 36 million tones, with growth across all segments, dry bulk, container, liquids and gas

Adani Ports and Special Economic Zone will hold a board meeting on December 12 to consider a proposal to raise funds through the issue of non-convertible debentures and issue or renew preference shares on private placement or preferential basis.

Recently the company had made plans to raise funds through the issue of bonds but put it on hold for a while. Last week group chief financial officer Jugeshinder Singh indicated that raising of funds through bonds would be done next year.

Also read: Adani Ports starts purchase of $195 million worth of senior notes outstanding

The port operator had record a 42 per cent rise in cargo volumes in November handling 36 million tones, with growth across all segments, dry bulk, container, liquids and gas.

In the first eight months of FY24, the company handled 275 million tonnes of cargo and it expects to end the year with a volume in the range of 370-390 million tonnes.

Published on December 6, 2023 15:15