Adani Group raised around $8.897 billion with its infra investment participation programme in a span of four years, the ports-to-power conglomerate said in a statement on Sunday.
The programme has seen long-only global investors investing in the Adani portfolio companies spread across the infrastructure spectrum. The conglomerate has attracted investments across its various listed entities, including Adani Ports and Special Economic Zone Ltd., Adani Green Energy Ltd., Adani Transmission Ltd., Adani Total Gas Ltd. and Adani Enterprises Ltd., it said.
The investment programme supported strategic priorities, including prepayment of margin linked share backed financing, Adani Group said, adding that it offered flexibility to equitise debt capital in rising interest rate environment.
“Adani has attracted large-scale investments from the likes of Qatar Investment Authority, TotalEnergies, International Holding Company, as well as GQG Partners along with its co-investors Australia Super, Goldman Sachs, University of Texas, Delaware Public Employees Retirement System, Master Trust Bank of Japan, Missouri Education Pension Trust, Abu Dhabi Investment Authority, Universal Investment Luxembourg, New York State Common Retirement Fund and Employees Retirement System of Texas,” the statement read.
Adani family raised $1.38 billion (Rs 11,330 crore) through stake sale in the three portfolio companies—AEL, AGEL and ATL.
“This ensures 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. In addition, the three portfolio companies have also received board approval for primary issuances,” Adani Group said.
In March this year, the Adani family carried out a similar stake-sale to raise $1.87 billion (Rs 15,446 crore). The proceeds were then used for full prepayment of margin-linked, share-backed financing and created flexibility in a rising rate environment to equitise debt capital as and when due.
Adani Group said it is committed to raising capital to fulfill its 10-year roadmap of the transformative capital management programme formulated in 2016 and to be concluded in 2025, to execute the plans for various portfolio companies.
Source : BQPrime