The company, which operates 13 ports and terminals in the country including its largest container handling port, Mundra in the western Indian state of Gujarat, said a majority of the funds issued will be used for refinancing of existing debt.
Adani Group companies are starting to raise funds for capital expenditure, and have plans to spend seven trillion rupees over the next decade on infrastructure projects.
Meanwhile, the company is in early talks to acquire real-estate conglomerate Shapoorji Pallonji Group’s (SP Group) Gopalpur port in Odisha for about 11-12 billion rupees ($132-$144 mln).
