Adani Enterprises announced on July 11 that it has raised ₹1,250 crore through the allotment of non-convertible debentures (NCDs). “We would like to inform that the company has raised Rs. 1,250 crore today i.e. 11th July, 2023 by allotment of 125,000 Secured, Unrated, Unlisted, Redeemable, Non-Convertible Debentures (“NCDs”) of the face value of ₹1,00,000/- each on private placement basis,” said the Adani Group’s flagship firm in a regulatory filing to the stoxk exchanges.
Earlier today, Bloomberg reported that Gautam Adani is going to bid for the coal-fired power plants promoted by Anil Ambani that are currently under auction, quoting people aware of the matter. Adani Group may face intense competition for Vidarbha Industries Power Ltd which operates 600-megawatt generation facilities in central India, the report added.
Adani Group’s successful bid for the power plant would add to its expanding portfolio of coal power projects. It would be a big boost as the conglomerate efforts to recover from a devastating short-seller report by Hindenburg Research in January.
The Adani Group is looking to expand core fossil-fuel projects and as per the sources, Bain Capital and Carlyle Group Inc. are some of the potential bidders for the shadow bank, Adani Capital. The move comes as Adani plans to keep cash in hand and redirect its focus on the key businesses.
Over the weekend, the port-to-power conglomerate announced that it had raised over $9 billion in the last four years from some of the leading global investors such as Qatar Investment Authority (QIA) and GQG Partners (GQG). The group has attracted investments across various listed entities – Adani Ports and Special Economic Zone Limited (APSEZ), Adani Green Energy Limited (AGEL), Adani Transmission Limited (ATL), Adani Total Gas Limited (ATGL) and Adani Enterprises Limited (AEL).
Meanwhile, Adani Group announced in May that its board approved the proposal to raise ₹12,500 crore through a share sale. On July 11, shares of Adani Enterprises settled 0.48 per cent higher at ₹2,421.80 apiece on the BSE.
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Updated: 11 Jul 2023, 10:21 PM IST