Adani Ports offers to buy back up to $195 mn of 2024 bond
Adani Ports offers to buy back up to $195 mn of 2024 bond
Adani Ports and Special Economic Zone has disclosed its intention to repurchase up to $195 million worth of its 2024 bonds, according to an official exchange filing made on Wednesday. The move comes as part of the ongoing efforts of the company, led by billionaire Gautam Adani, to reduce its debt load and fulfill near-term loan obligations due in the coming year.
Earlier this year, the ports and logistics giant initiated a buyback program for select debt securities in April, aiming to prepay a portion of its imminent loans scheduled for repayment in 2024. This strategic move followed a..
Indian container cargo set to expand by 8% in FY25 amidst Red Sea crisis
CareEdge Ratings forecasts that Indian container cargo volume will experience an 8% growth, reaching 342 million tonnes (mt) in FY25. They also anticipate the risk of a prolonged Red Sea crisis. In a sectoral report, the agency mentions that the connection of the Dedicated Freight Corridor to Jawaharlal Nehru Port Trust (JNPT) in FY26, coupled with capacity expansions by ports, will likely propel the growth in container volumes in the medium term. According to the report, significant adverse movements in charter rates affecting cargo volumes, as well as vessel additions by shipping lines, will..
Nalanda Capital Sells Stake in Great Eastern Shipping
Nalanda Capital has divested a 1.4% stake in Great Eastern Shipping, a prominent player in the ports and shipping industry, for a total sum of Rs. 1.90 billion. This move comes amidst evolving market dynamics and reflects Nalanda Capital's strategic realignment of its investment portfolio.
The sale of shares in Great Eastern Shipping represents a calculated decision by Nalanda Capital to optimise its investment holdings and capitalise on market opportunities. The transaction, valued at Rs. 1.90 billion, underscores the investor's confidence in realising returns while maintaining flexibi..