ADANI PORTS; LIC Invests ₹5,000 Crore in Adani Ports NCD

Life Insurance Corporation of India (LIC) invests ₹5,000 crore in non-convertible debentures (NCDs) of Adani Ports. The NCD is a 15-year bond with a 7.75% coupon rate. It is one of the longest-duration domestic issuances by Adani Group in recent months. LIC, holding 8.06% of Adani Ports, was the sole investor. Funds raised will be used for capital expenditure, debt refinancing, and general corporate purposes.