Adani Ports raises Rs 500 crore; stock up over 3%

Shares of Adani Ports and Special Economic Zone surged over 3% after the company raised Rs 500 crore through issue of debentures.

The stock rose by 3% to Rs 245.30 on BSE. On NSE, it climbed 3.21% to Rs 245.50.

"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 on Tuesday.

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

The government has recently approved the 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.