Adani Ports offers to buy back up to $195 mn of 2024 bond
PORTS & SHIPPING

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 tender offer of up to $130 million, designed to bolster investor confidence after Adani Group's shares faced a significant setback in the wake of a critical report by U.S. short-seller Hindenburg Research in January.

The company has outlined plans to continue acquiring outstanding notes for cash over the course of the next three quarters. Adani Group's seven listed stocks have collectively witnessed a decline of over $100 billion in market value since the release of Hindenburg Research's report on January 24. The report had raised allegations of improper use of offshore tax havens and stock manipulation against the group, allegations that were firmly denied by Adani Group.

This latest buyback move underscores Adani Ports' commitment to financial stability and addressing investor concerns in a dynamic market environment.

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 tender offer of up to $130 million, designed to bolster investor confidence after Adani Group's shares faced a significant setback in the wake of a critical report by U.S. short-seller Hindenburg Research in January. The company has outlined plans to continue acquiring outstanding notes for cash over the course of the next three quarters. Adani Group's seven listed stocks have collectively witnessed a decline of over $100 billion in market value since the release of Hindenburg Research's report on January 24. The report had raised allegations of improper use of offshore tax havens and stock manipulation against the group, allegations that were firmly denied by Adani Group. This latest buyback move underscores Adani Ports' commitment to financial stability and addressing investor concerns in a dynamic market environment.

Next Story
Infrastructure Urban

KEC Wins Rs 11 Billion Orders Across Key Sectors

KEC International Ltd., a global infrastructure EPC major and part of the RPG Group, has announced the securing of new orders worth Rs 11 billion across its diverse business verticals.In the civil segment, the company received a prestigious order for civil and structural works of a 150 MW thermal power plant from a leading private player in India.In the transportation business, KEC bagged contracts under the Train Collision Avoidance System (TCAS) programme, known as ‘Kavach’, aimed at enhancing rail safety in India.The transmission and distribution (T&D) division won orders for the su..

Next Story
Infrastructure Urban

RITES Bags Rs 362 Million Order From DVC

RITES Limited, a Schedule 'A' enterprise under the Government of India, has announced that it has received a major domestic work order from the Damodar Valley Corporation (DVC). The company disclosed the development in a filing to the BSE and NSE dated 2 October 2025. The total contract value stands at Rs 362 million (excluding GST).Under the agreement, RITES will provide comprehensive services for the DVC Mejia Thermal Power Station. The scope of work includes the Annual Maintenance Contract (AMC) for Railway Sidings tracks, Operation and Maintenance (O&M) of Signalling and Telecommunicat..

Next Story
Infrastructure Urban

Greta Minerals Doubles WA Exploration Land, Targets Lithium Supply for India

Greta Minerals Pte, part of Singapore-based Greta Group, has expanded its exploration footprint in Western Australia to 1,550 sq km, up from 700 sq km acquired in 2024.Nitesh Chaudhari, Chairman of Greta Group, said, “We are very happy to expand our landholding, encouraged by initial results from Ultrafine+ soil sampling at Gecko North. The geological corridor appears promising for lithium, gold, and other critical minerals.”The Gecko North Project, 25 km northwest of Coolgardie, is one of seven critical mineral and gold projects under Greta Minerals (Australia) Pty, which now holds 37 gra..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?