Adani Ports board to meet on December 12, to consider raising funds

Adani Ports and Special Economic Zone on Wednesday said its board will meet on December 12 to consider a proposal to raise funds through the issue of non-convertible debentures or issue or renew preference shares on a private placement or preferential basis.

In November, the Gautam Adani-owned company recorded strong cargo volumes of around 36 MMT (million metric ton) — a robust 42 per cent on-year increase.

“…we would like to inform you that the meeting of the board of directors of the company will be held on Tuesday, December 12 to consider the proposal for (i) issuance of non-convertible debentures and (ii) issuance/renewal of non-cumulative redeemable preference shares, on private placement basis/preferential basis, in one or more tranches,” the company said in a regulatory filing.