LIC Fully Backs Adani Ports’ ₹5,000 Cr Bond

BUSINESS

By Aniket Chakraborty May 31, 2025 Arrow

This marks Adani Ports’ largest-ever rupee bond issue and its first 15-year tenor deal.

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The privately negotiated deal had no other bidders—just LIC backing the entire issue.

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Adani Ports may have avoided open markets to keep borrowing costs from rising.

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The funds will refinance existing debt and boost capital spending on port infrastructure.

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Experts say the 7.75% coupon is 126 bps above sovereign yield, reflecting market strength.

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APSEZ operates 15 domestic ports and 4 global terminals, handling 450 MMT cargo in FY25.

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Crisil rates Adani Ports “AAA” while Fitch has affirmed a stable ‘BBB-’ outlook.

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LIC alone invested ₹80,000 crore in bonds in FY25, up 30% from last year.

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As others struggled to raise funds, LIC’s move signals confidence in Adani Ports’ future.

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