India's Adani Ports to consider buyback of debt securities

21 Apr 2023 CW Team

India's Adani Ports and Special Economic Zone, a group company of the beleaguered Adani Group, said it will consider its first and partial buyback of certain of the company's debt securities.

Adani Ports said in an exchange filing that it will consider buying back the securities, which will be denominated in either Indian rupees or US dollars, during the current fiscal year, subject to market conditions. The move comes as the conglomerate tries to regain investor trust after being battered by a critical report from a US short seller.

The group's seven listed stocks, led by billionaire businessman Gautam Adani, have lost about $114 billion in market value since a Hindenburg Research report in January '24 accused it of improper use of offshore tax havens and stock manipulation, allegations the group has denied.

Adani group shares and bonds have recovered some of their lost ground in the last month or so, thanks to debt repayment and a $1.9 billion investment from boutique investment firm GQG Partners. However, the group is still fighting an investigation by India's market regulator into Hindenburg's allegations as well as the group's related party dealings in response to a Supreme Court directive.

Also Read

HP CM expects Uhl-III hydropower project to be operational by May

Jagan to lay groundwork for Greenfield Mulapeta Port

Infrastructure Energy

19 Sep 2025

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..