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Adani Ports stock climbs over 3% as co raises Rs 500 crore.

Date: 31-03-2016
Subject: Adani Ports stock climbs over 3% as co raises Rs 500 crore
MUMBAI: Shares of Adani Ports and Special Economic Zone surged over 3 per cent today after the company raised Rs 500 crore through debentures.

The stock settled 3.32 per cent higher at Rs 245.85 on BSE. During the day, it climbed 4.64 per cent to Rs 249.

At NSE, shares of the firm closed at Rs 245.95, up 3.4 per cent from its previous close.

In terms of volume, 2.44 lakh shares of the company were traded at NSE and over 28 lakh shares were traded at NSE during the day.

"The company has raised Rs 500 crore today by allotment of 5,000 rated, listed, secured, taxable, redeemable, non-convertible debentures (NCDs) of the face value of Rs 10,00,000 each on private placement basis," it had said in a regulatory filing to the BSE yesterday.

Earlier this month, the company had also raised Rs 150 crore through debentures.

The government had recently approved Adani Group's proposal for clubbing its three notified special economic zones (SEZs) in Gujarat to form a mega multi-product export zone spanning over 8,500 hectares.

Source : economictimes.indiatimes.com

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