Adani Ports and Special Economic Zone Ltd.'s board has approved plans to raise up to Rs 5,000 crore via bonds and restructure its top management.
The company will issue secured, rated, listed, redeemable, non-convertible debentures of face value of Rs 1,000 each, through one or more tranches, an exchange filing said on Wednesday.
The board also approved re-designation of Gautam Adani as executive chairman up to July 30, 2027, and Karan Adani as managing director up to May 23, 2027.
Adani Ports and Special Economic Zone is in advanced negotiations to acquire Shapoorji Pallonji Group’s Gopalpur Ports in Odisha for up to Rs 1,100-1,200 crore, ..
Adani Ports and Special Economic Zone Ltd., through its wholly owned arm Adani Logistics Ltd., subscribed to a 50% stake in Veracity Supply Chain Pvt.
The newly incorporated company, will provide last mile connectivity to customers from Inland Container Depots, powered by digital transport management system, it said in its exchange filing on Tuesday.
The ongoing war between Israel and militant group Hamas triggered a sell-off in the shares of Adani Ports and Special Economic Zone Ltd. on Monday, as the stock tumbled over 5% intraday. This could potentially hurt the company's newly acquired Haifa port in Israel. However, a 5% fall for a port that contributes 1.3% as per sum-of-the-parts valuation, presents a buying opportunity, according to CLSA.