Life Insurance Corporation of India invested in Adani Ports. LIC purchased ₹5,000-crore non-convertible debentures. This investment supports Adani Ports’ plan to refinance debt. The company aims for longer-term borrowings at lower rates. The 15-year bond has a 7.75% coupon. Adani Ports will use the funds for capital expenditure. Refinancing existing debt is another purpose.
IPO Calendar: Primary market cools after Jio frenzy, but 13 listings lined up
India’s IPO market is set for a quiet week, with just one fresh issue worth Rs 56.68 crore opening for subscription and no mainboard launches.