Adani Ports and Special Economic Zone Ltd (APSEZ) has successfully raised ₹5,000 crore through its largest-ever domestic bond issuance—a 15-year Non-Convertible Debenture (NCD) fully subscribed by Life Insurance Corporation of India (LIC), the company announced on Friday.
The issuance, backed by APSEZ’s robust financials and its ‘AAA/Stable’ domestic credit rating, secured a competitive coupon rate of 7.75%. The NCDs will be listed on the Bombay Stock Exchange (BSE).
The funds raised will support a proposed buyback of the company’s US Dollar-denominated bonds, pending board approval on May 31, 2025. This issuance significantly extends the company’s average debt maturity from 4.8 years to 6.2 years, strengthening its long-term capital structure.
“This is not just a financing move but part of a carefully designed Capital Management Plan aimed at maintaining conservative leverage, diversifying funding sources, and lowering capital costs,” said Ashwani Gupta, Whole-time Director and CEO, APSEZ. “It supports our vision to become the world’s largest integrated transport utility.”
This marks APSEZ’s longest domestic bond tenure to date and one of the longest in Indian capital market history. The company emphasized that the strong subscription reflects deep investor confidence and APSEZ’s access to long-term domestic capital.
The company aims to handle 1 billion tonnes of cargo annually by FY 2030—more than double the FY 2024–25 volume. APSEZ operates seven ports and terminals on India’s west coast and eight on the east coast, accounting for 27% of the country’s total port volume.
Its global footprint includes the development of a transshipment hub at Colombo Port (Sri Lanka), operations at Haifa Port (Israel), and Container Terminal 2 at Dar es Salaam Port (Tanzania), significantly enhancing its international reach.
