Adani Ports and Special Economic Zone is planning to raise ₹5,000 crore through the issue of non-convertible debentures, and another ₹250 crore through preference shares.
The board considered and approved the proposal to raise funds at a board meeting today.
The NCDs will be issued on a private placement basis in one or more tranches, the company said.
Adani group CFO Jugeshinder Singh had said recently the group companies would access the domestic bond markets more. The group has been raising its debt funding from foreign bond markets.
In fact, both Adani Ports and flagship Adani Enterprises recently postponed their planned entry in the bond markets on account of adverse news reports about the group.
Singh said it would access the domestic bond market next year.
Non-cumulative redeemable preference shares for ₹250.19 crone will also be issued on a preferential basis. These shares will be redeemable after seven years, and will carry a coupon rate of 0.01 per cent.