APSEZ board to consider partial buyback of debt securities on Saturday
Billionaire Gautam Adani's Adani Ports and Special Economic Zone Limited (APSEZ) on Wednesday said its board will meet on Saturday to consider first and a partial buyback of certain of its debt securities, either denominated in rupee or US dollar in the current financial year.
"... a meeting of the Board of Directors of Adani Ports and Special Economic Zone Limited is scheduled on Saturday, April 22, 2023, to consider first and a partial buyback of certain of its debt securities, either denominated in INR or USD, in this financial year, subject to market conditions," the company said in a BSE filing.
Adani group has been under pressure after the US short-seller Hindenburg Research on January 24 accused it of accounting fraud and stock manipulation, allegations that the conglomerate has denied as "malicious" and "baseless".
Earlier this month, APSEZ had reported a 9 per cent growth in cargo handling at seaports it operates for the fiscal ended March 31.
At 339 million tonne, this is