Adani Ports and Special Economic Zone (APSEZ) shares jumped on January 4 as the board of directors of the Adani Group company approved raising up to Rs 5,000 crore via NCDs and approved leadership reshuffles. 

Shares of Adani Ports and SEZ hit an intraday high of Rs 1,131, up 3.3% from the previous closing price on the National Stock Exchange (NSE). The stock closed 2.54% higher at Rs 1,122.00. 

In a regulatory filing, APSEZ said that its board of directors approved raising funds up to Rs 5,000 crore through public issuance of secured, rated, listed, redeemable, non-convertible debentures of face value of Rs 1,000 each through one or more tranches. Adani Ports last raised $600 million in December by issuing bonds and used the proceeds to refinance its debt.

Billionaire Gautam Adani, previously serving as the chairperson and managing director, will be re-designated as executive director from managing director, and his son Karan Adani to the role of Managing Director. 

Simultaneously, the board of the logistics company has appointed Ashwani Gupta as the new CEO, effective from January 4, 2024. Gupta will also serve as the whole-time director for a three-year term, subject to shareholder approval.