Adani Ports and Special Economic Zone (APSEZ) has successfully raised ₹5,000 crore through a 15-year bond issuance, marking its largest rupee-denominated bond sale since January 2024. The Life Insurance Corporation of India (LIC) fully subscribed to the bonds, which carry a 7.75% annual coupon rate.
- The ₹5,000 crore issuance was placed at the lowest spread over the corresponding government bond yield in the last seven years.
- LIC, which already holds ₹54 billion worth of Adani Ports’ debt, emerged as the largest investor in this issuance.
- The company had previously raised ₹2.5 billion each via five- and ten-year bonds at 8.70% and 8.80% coupon rates, respectively, in January 2024.
- Adani Ports’ board recently approved raising ₹60 billion through bond sales, with the notes rated AAA by Crisil and Care.
- Analysts suggest that more Adani Group companies may tap into the local debt market, especially as yields decline due to policy rate cuts and surplus liquidity.
This bond issuance signals renewed investor confidence in Adani Ports and could pave the way for further fundraising efforts by the Adani Group in the near future.
