Adani Ports to raise up to ₹5,000 crore; Gautam Adani redesignated Executive Chairman

Adani Ports Plans ₹5,000 Crore Fundraise via Non-Convertible Debentures; Announces Leadership Changes

Adani Ports and Special Economic Zone has disclosed plans to raise up to ₹5,000 crore through a public issue of non-convertible debentures, as stated in an official exchange filing. The debentures, each with a face value of ₹1,000, are part of the company's financial strategy to support its significant capital expenditure (capex) plans.

Jugeshinder Singh, the Chief Financial Officer of the Adani Group, had previously hinted at increased funding from domestic debt capital markets for group companies. The Adani Group envisions becoming a major player in the infrastructure sector and has earmarked approximately ₹20,000 crore by 2030 to quadruple its current cargo handling capacity. Adani Ports, operating 13 ports in India, plays a pivotal role in achieving this objective.

Simultaneously, Adani Ports has undergone key leadership changes, with Chairman and Managing Director Gautam Adani being redesignated as Executive Chairman. The company has welcomed Ashwani Gupta as the Chief Executive Officer for a three-year term, effective from January 4. Karan Adani, the current CEO, will now take on the role of Managing Director.

Ashwani Gupta, the former Chief Operating Officer of Nissan Motor Co, brings with him a wealth of experience, having successfully led Nissan to profitability after the challenging exit and arrest of former chairman Carlos Ghosn. Gupta, who played a key role in revamping the alliance between Nissan and Renault, left Nissan in June 2023.

With a career spanning about three decades, Gupta is recognized for steering business growth in complex, multicultural, and multilocation organizations. His past roles include positions at Renault and Mitsubishi, contributing to his extensive expertise in transformative business strategies. The new leadership appointments signal Adani Ports' strategic moves to fortify its financial position and leadership team for future growth initiatives.

HBL