On Tuesday, Adani Ports and Special Economic Zone unveiled plans to secure Rs 5,000 crore via non-convertible debentures, alongside an additional Rs 250 crore through redeemable preference shares.
The primary objective behind this capital influx, as articulated by the Gautam Adani-led firm, is to primarily allocate these funds towards the refinancing of its current debt obligations.
Following thorough deliberation at a board of directors meeting, the proposal has received unanimous approval. This strategic maneuver is a pivotal component of the company’s overarching strategy aimed at alleviating its existing debt burden.
(With Agency Inputs)
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