Adani Ports Raises Rs 5,000 Crore Via Bond Sale; LIC Takes Entire Issue: Report

Adani Ports and Special Economic Zone Ltd., India's largest private port operator, has successfully raised Rs 5,000 crore through the issuance of 15-year bonds, its longest-tenor rupee debt to date.

The bond issue was fully subscribed by Life Insurance Corporation of India (LIC), according to sources cited by Reuters on Thursday (30 May).

As per the Reuters report, the bonds, issued at an annual coupon of 7.75 per cent, mark the lowest spread over equivalent government securities in the past seven years. This offering is Adani Ports’ largest-ever rupee-denominated bond issue and also the group’s first return to the debt market since January 2024.

As of April-end, Adani Ports had Rs 6250 crore in outstanding bonds, with LIC already holding around Rs 5400 crore, making it the largest debt holder in the company, as per previous filings.

This latest fundraising follows board approval last week to raise up to Rs 6000 crore in fresh debt. The new bonds are rated AAA by both Crisil and Care Ratings.

Market insiders cited in the Reuters report suggest that following this successful issuance, other Adani Group companies may also seek to raise money from the domestic debt market, especially with expectations of falling interest rates and rising liquidity in the system.