Adani Ports and Special Economic Zone plans to raise up to ₹5,000 crore through the public issue of non-convertible debentures. The company said in an exchange filing it would issue debentures with a face value of ₹1,000 each.

Adani Group’s Chief Financial Officer Jugeshinder Singh had indicated last month that group companies would be accessing more funds in the domestic debt capital markets than earlier.

Expansion plans

The group has big capex plans as it aims to be one of the largest infrastructure players in the sector and Adani Ports, which operates 13 ports in India, is one of its key firms.

It has stated aim of pumping in around ₹20,000 crore by 2030 to quadruple its current cargo handling capacity.

Adani Ports has also carried out some changes at its top level by redesignating Chairman and Managing Director Gautam Adani as Executive Chairman.

It has inducted Ashwani Gupta as the Chief Executive Officer for three years. The current CEO, Karan Adani will now be designated as Managing Director. All the new appointments are effective from January 4.

Gupta is the former Chief Operating Officer of Nissan Motor Co and steered the loss-making Japanese carmaker to profitability after the ignoble exit and arrest of its former chairman Carlos Ghosn. He also revamped the alliance between Nissan and Renault. Gupta quit Nissan in June in 2023.

According to his bio, he has about three decades of experience and “has been instrumental in steering business growth in complex, multicultural, multilocation organisations with a profound and transformative impact.” He has worked with Renault and Mitsubishi previously.

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