Adani Ports and Special Economic Zone (APSEZ) Monday said its board has given nod for buyback of non-convertible debentures (NCDs) worth Rs 1,400 crore.
The logistics arm of the Adani Group - APSEZ is one of the largest port developers in the country.
"The Board of Directors at its meeting held on 18th March, 2019...has approved the Buy-Back of 14,000 Non-Convertible Debentures (NCDs) aggregating to Rs 1,400 crores from the existing Debenture Holders," the company said in a regulatory filing.
The buyback will be done in one or more tranche through negotiated deals as may be agreed, it said.
The shares of the company closed at Rs 369.20 apiece on the BSE, up 0.85 per cent from the previous close.