Adani Ports and Special Economic Zone, one of the largest private multi-port operators, announced that pursuant to the powers delegated to the Finance Committee by the board of directors of Adani Ports and Special Economic Zone, the Finance Committee has reviewed and approved the preliminary offering circular in relation to the proposed issuance of foreign currency (USD) denominated bonds by the company.

The issuance of foreign currency (USD) denominated bonds offering may follow, subject to market conditions.

The company is rated Baa3 (Negative) by Moody's, BBB- (Stable) by S&P and BBB-(Negative) by Fitch and expects the same ratings for its foreign currency (USD) denominated bonds.

Shares of the company gained Rs 3.65, or 1.28%, to trade at Rs 288.45. The total volume of shares traded was 74,978 at the BSE (11.38 a.m., Tuesday).