Adani Group plans to raise Rs 6,000 crores
The Adani Group laid down its plans to raise 6,000 crore through stake sales in promotor group companies and issuance of securities.
The utilization of proceeds generated from the equity issuance would be for strengthening the balance sheet position of group companies, part fund the proposed takeover of integrated business of generation, transmission and distribution of power for Mumbai and deleveraging the power business as said by the company in a statement published.
“An equity-raising programme of Rs 5,000- Rs 6,000 crore was envisaged by The Adani Group through a combination of primary issuances and secondary monetisation of group stakes promoter in APSEZ (Adani Ports and SEZ Ltd), ATL (Adani Transmission Ltd) and AGEL (Adani Green Energy Ltd),” said
Through trusts and other entities, The Adani Group holds controlled interests in entities including AEL, APSEZ, Adani Power Ltd (APL), ATL and AGEL.
The promoter group monetised 4 per cent stake in APSEZ through block trade, raising Rs 3,000 crore on June 21 and 29, 2018, as part of this equity-raising programme.
“Capital Group and Temasek which are high quality and long-term foreign institutional investors enhanced the company’s holdings in APSEZ. Investor’s confidence in APSEZ's business and growth potential is reiterated from the participation of these long term investors” said APSEZ CEO Karan Adani.
The intentions of the promoter group is to not undertake any further monetisation of its 62.3 per cent stake in APSEZ for a year now and has “provided additional comfort to the above investors that should be retained till 31ST December, 2018 by the promoter group holders”
Adani group is currently India’s leading integrated infrastructure conglomerates with interests in trading, resources, energy and logistic among others.
he utilization of the proceeds from the equity issuance would be to strengthen the balance sheet position of group companies, including deleveraging the power business and to partially fund the integrated business of generation’s proposed takeover, distribution and transmission of power for Mumbai, the company said.
On July 1, 2018 The Adani Group laid down its plans to raise 6,000 crore through stake sales in promotor group companies and issuance of securities.
The utilization of proceeds generated from the equity issuance would be for strengthening the balance sheet position of group companies, part fund the proposed takeover of integrated business of generation, transmission and distribution of power for Mumbai and deleveraging the power business as said by the company in a statement published.
“An equity-raising programme of Rs 5,000- Rs 6,000 crore was envisaged by The Adani Group through a combination of primary issuances and secondary monetisation of group stakes promoter in APSEZ (Adani Ports and SEZ Ltd), ATL (Adani Transmission Ltd) and AGEL (Adani Green Energy Ltd),” said
Through trusts and other entities, The Adani Group holds controlled interests in entities including AEL, APSEZ, Adani Power Ltd (APL), ATL and AGEL.
The promoter group monetised 4 per cent stake in APSEZ through block trade, raising Rs 3,000 crore on June 21 and 29, 2018, as part of this equity-raising programme.
“Capital Group and Temasek which are high quality and long-term foreign institutional investors enhanced the company’s holdings in APSEZ. Investor’s confidence in APSEZ's business and growth potential is reiterated from the participation of these long term investors” said APSEZ CEO Karan Adani.
The intentions of the promoter group is to not undertake any further monetisation of its 62.3 per cent stake in APSEZ for a year now and has “provided additional comfort to the above investors that should be retained till 31ST December, 2018 by the promoter group holders”
Adani group is currently India’s leading integrated infrastructure conglomerates with interests in trading, resources, energy and logistic among others.
