Ahmedabad, 30 May 2025: Adani Ports and Special Economic Zone Ltd (APSEZ), the country’s largest integrated transport utility, has raised ₹5,000 crore through a 15-year Non-Convertible Debenture (NCD) issue at a fixed coupon rate of 7.75% per annum. Fully subscribed by the Life Insurance Corporation of India (LIC), the issue stands out as the longest-tenure domestic bond in the company’s history and among the longest in Indian capital markets.
The debentures, which will be listed on the Bombay Stock Exchange (BSE), form a key part of APSEZ’s broader capital strategy. Proceeds from the issue are proposed to be used for a US Dollar bond buyback, subject to board approval on 31 May 2025.
With this issuance, APSEZ has significantly improved its debt maturity profile, pushing the average debt tenure from 4.8 years to 6.2 years. The fundraising effort reflects the company’s strong financial position and its continued ‘AAA/Stable’ credit ratings from all major domestic rating agencies—CRISIL, ICRA, CARE, and India Ratings.
“This step is more than just raising funds—it’s the execution of our well-structured Capital Management Plan,” said Ashwani Gupta, Whole-time Director & CEO, APSEZ. “We aim to keep leverage conservative, extend maturities, lower capital costs, and diversify funding sources to align with our long-term growth vision.”
The NCD issuance highlights APSEZ’s ability to tap into long-duration funding within Indian debt markets at competitive pricing, enhancing both liquidity and financial flexibility. This positions the company well for large-scale projects, innovation, and strategic investments.
APSEZ is targeting a cargo handling capacity of 1 billion tonnes by FY30, more than double what it handles currently in FY25. In addition to port operations, it is aggressively expanding its logistics and marine services footprint.
Operating 15 ports and terminals across India, 7 on the west coast and 8 on the east, APSEZ manages 27% of the nation’s total port volumes. Its international operations include the Haifa Port in Israel, a transshipment port under development in Colombo, Sri Lanka, and Container Terminal 2 in Dar Es Salaam, Tanzania. The company’s integrated “Ports to Logistics” platform includes multimodal logistics parks, Grade A warehouses, and industrial zones, placing it at a strategic advantage as global supply chains undergo restructuring.
The successful completion of this long-term debt issuance underscores APSEZ’s commitment to robust financial planning and global growth, reinforcing its ambition to become the world’s largest integrated transport utility.
