Download Unicorn Signals App

Powered By EquityPandit
 Signals, Powered By  EquityPandit

$1.38 Billion Stake Sale in Three Adani Companies, Total Raised Capital Rises to $9 Billion

Adani Group raised Rs 11,330 crore through stake sales in three group companies.

On Sunday, the Gautam Adani-led ports-to-power conglomerate announced that it had raised $1.38 billion or Rs 11,330 crore through stake sales in three group companies, bringing the total capital raised over the last four years to $9 billion. 

In the statement, Adani Group said that the stake sale in Adani Enterprises Ltd (AEL), Adani Green Energy Ltd (AGEL) and Adani Transmission Ltd (ATL) will ensure “higher capital availability at the group level, for growth as well as near-term commitments of both debt and equity for the portfolio companies over the next 12-18 months.”

The electricity transmission company, Adani Transmission, plans to raise Rs 8,500 crore through a stake sale. At the same time, the group’s flagship company Adani Enterprises, and the renewable energy firm Adani Green Energy plan to raise Rs 12,500 crore and Rs 12,300 crore, respectively.

In a move to regain market confidence, following the Hindenburg report, the group has taken various measures, including debt prepayments, investor roadshows and reduced pace of spending on new projects. As a result, global investors with long-term objectives have invested in the Adani portfolio companies. 

The group has also lured large-scale investments from the likes of Qatar Investment Authority (QIA), International Holding Company (IHC), TotalEnergies (TTE), GQG Partners (GQG), Australia Super, Abu Dhabi Investment Authority, Goldman Sachs, University of Texas, Missouri Education Pension Trust, Universal-Investment Luxembourg, Master Trust Bank of Japan, New York State Common Retirement Fund Delaware Public Employees Retirement System, and Employees Retirement System of Texas.

It has attracted investments across various listed entities – Adani Ports and Special Economic Zone Limited (APSEZ), AGEL, ATL, Adani Total Gas Limited (ATGL) and AEL.

Get Daily Prediction & Stocks Tips On Your Mobile