Adani ports to repurchase Rs 23 billion of 2024 bond

28 Sep 2023 CW Team

Adani Ports and Special Economic Zone has announced its intention to repurchase up to $ 195 million worth of its 2024 bonds. This move comes as the Indian conglomerate, backed by billionaire Gautam Adani, aims to put behind the accusations made by a US shortseller. The 3.375% notes experienced their most significant increase in value since April when it was revealed that the company would be willing to pay $975 for every $1,000 in principal for debt submitted for redemption by October 11. Subsequently, the offer price will decrease to $ 965 per $ 1,000. Adani Ports stated that it would finance this repurchase using its cash reserves and clarified that the targeted bond has $520 million in outstanding principal. In recent months, the Adani group has been working to restore investor confidence, particularly following the publication of allegations of wrongdoing by shortseller Hindenburg Research, which had triggered a sell-off in both its bonds and stocks. Adani officials have consistently refuted these allegations.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..