Adani group in advance talks to raise $2.6 billion; may trim stake in airport, green hydrogen units
Adani Group is reportedly in advanced discussions with prominent sovereign funds based in West Asia to secure funding of up to $2.6 billion. This potential move to raise funds is part of the conglomerate's expansion plans for airport infrastructure and green hydrogen projects, Business Standard reported.
Adani Group has embarked on a series of roadshows in key financial hubs such as London, Dubai, and Singapore. During these engagements, Adani executives have been briefing potential investors on the company's future endeavors.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Chief Technology OfficerVisitIIM LucknowIIML Chief Operations Officer ProgrammeVisitIIM KozhikodeIIMK Chief Product Officer ProgrammeVisitThe group expects reaching Ebitda of Rs 80,000 crore in this financial year ending on March 31.
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While the timeline for the fundraising has yet to be decided, analysts speculate that the initiative could hit the market by mid-2024. As part of the funding strategy, Adani Enterprises, the group's flagship entity, may consider diluting its stake in either the airport-holding firm or the green hydrogen business to accommodate the participation of these sovereign funds, according to the report.
In presentations to potential investors, the group has underscored recent rating upgrades by global rating agencies such as Moody’s and S&P. These agencies have not only reaffirmed ratings for all Adani group companies but have also restored a ‘stable
