Adani Ports will raise a billion dollars more after its largest ever bond issue in India

MUNDRA : The owner of India’s largest port in Mundra, Gujarat, will raise $1 billion in ‘outstanding senior notes’ one or more tranches over the next six quarters, the company informed the exchanges.

‘Outstanding senior notes’ refer to the kind of debt raised by a company that enjoy the highest priority during repayment.

The decision comes just a day after the ports operator, controlled by Gautam Adani (net worth $66.2 billion, as of May 31) raised ₹5,000 crore from Life Insurance Corporation of India, which already owns 8% of the company, according to a Times of India report. This was Adani Port’s largest-ever domestic debt issue.

The company has plans to spend ₹12,000 crore in capital expenditure in the financial year ending March 2026 in expanding its  capacity both in India and abroad. Earlier in April, the company said it would buy the North Queensland Export Terminal (NQXT) in Australia, at a valuation of about $2.5 billion, from the Singapore-based Abbot Point Port Holdings.

According to a Motilal Oswal report dated May 28, Adani Ports has about 27% market share in all-India cargo and about 45% in container cargo handled in India as of March 25. The Mumbai-based broking firm expects the stock to hit ₹1,620 in the next 12 months, which is 13% more than the closing price on Friday (May 30).

Shares of Adani Ports gained 3.4% to hit an intraday high of 1,482 apiece on Monday, June 2. The stock has gained 20.54% this year, so far.