Adani Group intends to raise USD 2bn via equity and debt in...

Adani Group intends to raise USD 2bn via equity and debt in three listed units – report

The India-based Adani Group intends to raise USD 2bn via equity and debt in three listed units, Adani Enterprises, Adani Ports & SEZ and Adani Power. This was reported by The Times of India, citing an undisclosed source.
Adani Group is planning an institutional placement of fresh shares in Adani Enterprises, the group flagship. It will also dilute its holdings in the power and port units to reduce the principal shareholdings in these listed group companies to less than 75% for a USD 1bn fundraising, the newspaper reported.
Adani Group will use this USD 1bn for its capex of USD 6bn for mining of coal in Queensland, Australia, the paper said.
The newspaper noted that Adani Group also intends to raise INR 50bn of foreign debt at Adani Power via foreign currency convertible bonds, global depositary receipts and American depositary receipts.
The group will use these debt funds for financing various Adani Power projects, the paper reported.