Adani Ports and Special Economic Zone (APSEZ) on Tuesday announced that it will raise more than Rs 5,250 crore by issuing non-convertible debentures and non-cumulative redeemable preference shares on private placement basis.

In a stock exchange filing, APSEZ said, “the board of directors of the company has given their in-principle approval for issuance of non-convertible debentures for capex/refinancing of existing debt and general corporate purpose for an aggregate amount not exceeding Rs 5,000 crore in one or more tranches on private placement basis.”

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