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Adani Road Transport's two units accept bids for Rs 11.25 billion bond issue
Two special purpose vehicles under India's Adani Road Transport received bids totalling Rs 11.25 billion, as reported by three bankers. The fundraising was conducted through a series of bond issuances by the two companies, aimed at securing long-term financing for infrastructure projects. Mancherial Repallewada Road accepted bids amounting to Rs 2.37 billion, while Suryapet Khammam Road secured Rs 2.82 billion through bonds with a tenure of six years and five months, and six years and eight months, respectively. Both bonds were issued at a semi-annual coupon rate of 8.28%, indicating the inte..
Vadhvan Port Development Kicks Off with Rs 17 Billion Tender for Works
Vadhvan Port Project has initiated the bidding process for near-shore reclamation and shore protection works, marking a key initial move towards the construction of a new deep-water port at Vadhvan, located near Dahanu in Maharashtra's Palghar district. The contract for these works, estimated at Rs 17 billion, will follow the engineering, procurement, and construction (EPC) model. The planned Vadhvan mega port, which will span 1,448 hectare of reclaimed land, is expected to have a total cost of Rs 762.20 billion. Unmesh Wagh, Chairman of the Jawaharlal Nehru Port Authority (JNPA), mentioned..
Abu Dhabi Investment to Invest $750M in GMR Group's Debt
The Abu Dhabi Investment Authority (ADIA), recognized as the UAE's largest sovereign wealth fund, plans to invest approximately $750 million in the debt of India's GMR Group, thereby establishing a presence in one of the fastest-growing aviation markets globally. This investment will also enable GMR Group to reduce the pledged shareholding related to its airports business. ADIA's funds will be allocated to structured debt instruments of GMR Enterprises (GEPL), the holding company for GMR Group, which holds nearly a 25% stake in GMR Airports. The capital will be used to refinance all externa..
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