Adani Ports and Special Economic Zone Ltd approves FCCBs

Pursuant to the powers delegated to the Finance Committee by the Board of Directors of Adani Ports and Special Economic Zone Limited (the "Company"), the Finance Committee has reviewed and approved the preliminary offering circular in relation to the proposed issuance of foreign currency (US$) denominated bonds (the "Notes") by the Company.

The issuance of foreign currency (US$) denominated bonds offering may follow, subject to market conditions.

The Company is rated Baa3 (Negative) by Moody's, BBB- (Stable) by S&P and BBB-(Negative) by Fitch and expects the same ratings for its foreign currency (US$) denominated bonds.

The meeting commenced at 8:30 p.m. and concluded at 9:15 p.m.

Shares of ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD. was last trading in BSE at Rs.295.7 as compared to the previous close of Rs. 294.05. The total number of shares traded during the day was 209529 in over 4027 trades.

The stock hit an intraday high of Rs. 299.65 and intraday low of 294. The net turnover during the day was Rs. 62314798.

Source : Equity Bulls

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