Adani Ports and Special Economic Zone, India’s largest private port operator, plans a return to the domestic bond market after a 17-month hiatus in what could be its largest-ever rupee denominated debt issue, three merchant bankers said on Wednesday.

The company is set to raise as much as ₹50 billion ($583.57 million) through the sale of bonds maturing in 15 years and has invited bids from bankers and investors on Thursday, the bankers, who did not want to be named because they are not authorised to speak to media, said.

The Adani group did not immediately respond to a Reuters email seeking comments.

If realised, this would not only be the largest bond issue by the company but also the longest in terms of tenor, as the company had raised funds through up to 10-year bonds in the past.

It would also be the first time since early 2024 that the company will tap local bond market for funds. In January 2024, it had raised ₹2.50 billion each through five-year and 10-year bonds at 8.70 per cent and 8.80 per cent coupons, respectively.