Adani Ports and Special Economic Zone Ltd approves issue of bonds upto $750 mn

The Board of Directors of Adani Ports and Special Economic Zone Limited (the "Company") at its meeting held on July 14, 2021, has approved the issuance of USD denominated foreign currency bonds ("Bonds") which may be issued in one or more tranches overseas, and that may be listed in any one or more stock exchanges in India or overseas. The proceeds of the Bonds will be used to finance the Company's capital expenditures and for general corporate purposes or for other permissible end uses in accordance with applicable laws including Reserve Bank of India guidelines, receipt of requisite regulatory and other approvals. The total amount raised will not exceed USD 750 million. The Bonds will be issued on a private placement basis or otherwise, to eligible persons, entities, bodies corporate, companies, banks, financial institutions and any other categories of eligible investors permitted to invest in the Bonds under applicable laws.

Pursuant to the aforesaid approval of the Board of Directors of the Company, the pricing, tenure and other terms of the Bonds to be issued will be determined by the Finance Committee of the Company, in its meeting which shall take place on or after July 19, 2021, and such details shall be intimated to you in due course.

Shares of ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD. was last trading in BSE at Rs.697.25 as compared to the previous close of Rs. 703.95. The total number of shares traded during the day was 530381 in over 10060 trades.

The stock hit an intraday high of Rs. 711.85 and intraday low of 695.35. The net turnover during the day was Rs. 372260533.

Source : Equity Bulls

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