Adani Green Energy to Seek $1 Billion in Funding
POWER & RENEWABLE ENERGY

Adani Green Energy to Seek $1 Billion in Funding

According to the report, the exercise to raise this sum through QIP is part of a group's plan that was stated last year. Adani Green Energy is apparently seeking board approval to finance up to $1 billion through qualified institutional placement (QIP).

According to the Economic Times, Adani Green Energy intends to raise between $750 million and $1 billion. Prior to this, two Adani Group entities had received board clearance for fundraising. Adani Enterprises (Rs 125 billion) and Adani Transmission (Rs 85 billion) are two of them.

As per the report, the exercise to raise this sum through QIP is part of a group's plan that was revealed last year. The plan's goal was to create a 'three-year equity cushion' to fund expansion plans.

Adani Green Energy's cash would reportedly be used to cover a $750 million debt relating to a three-year bond issued in 2021 and due next year. Furthermore, the funds are supposed to be held in a separate redemption reserve account.

Once that is done, the report adds that the company is likely to pay the due amount on the due date. “We do not comment on routine business matters. All public disclosures on business matters are disclosed when appropriate,” the publication quoted an Adani Group spokesperson as saying.

It should be noted, however, that the Adani Green Energy board meeting scheduled for today, May 24, has also been cancelled.

See also:
Adani group aims to raise Rs 210 bn through stake sale in two companies
Gautam Adani concentrates on green energy as profits surge


According to the report, the exercise to raise this sum through QIP is part of a group's plan that was stated last year. Adani Green Energy is apparently seeking board approval to finance up to $1 billion through qualified institutional placement (QIP). According to the Economic Times, Adani Green Energy intends to raise between $750 million and $1 billion. Prior to this, two Adani Group entities had received board clearance for fundraising. Adani Enterprises (Rs 125 billion) and Adani Transmission (Rs 85 billion) are two of them. As per the report, the exercise to raise this sum through QIP is part of a group's plan that was revealed last year. The plan's goal was to create a 'three-year equity cushion' to fund expansion plans. Adani Green Energy's cash would reportedly be used to cover a $750 million debt relating to a three-year bond issued in 2021 and due next year. Furthermore, the funds are supposed to be held in a separate redemption reserve account. Once that is done, the report adds that the company is likely to pay the due amount on the due date. “We do not comment on routine business matters. All public disclosures on business matters are disclosed when appropriate,” the publication quoted an Adani Group spokesperson as saying. It should be noted, however, that the Adani Green Energy board meeting scheduled for today, May 24, has also been cancelled. See also: Adani group aims to raise Rs 210 bn through stake sale in two companies Gautam Adani concentrates on green energy as profits surge

Next Story
Infrastructure Urban

Roadmap for Encouraging Investment in The Indian Infrastructure Sector

The Union Budget 2025-26, unveiled by the Hon’ble Finance Minister, embodies a clear and ambitious vision, recognizing the pivotal role of investment in the economy as a key driver for national advancement. In alignment with this vision, the government has escalated the capital expenditure allocation for the infrastructure sector to an impressive Rs 11.21 lakh crore, marking a significant increase from previous years.Reflecting on the past, the Economic Survey of the preceding year underscored the government's dominant investment in infrastructure, which substantially exceeds private sector ..

Next Story
Infrastructure Urban

Budget 2025: Real Estate Gains with Tax Cuts, New Investment Fund

India's construction and real estate sectors are poised for a significant boost, thanks to a series of strategic policy reforms announced by the finance minister. Aimed at revitalising stalled housing projects and spurring urban development, these initiatives include the launch of a new investment fund and tax relief measures that promise to ease financial burdens and stimulate market activity. As the government rolls out these changes, we are set to witness a transformative impact on the housing landscape, with benefits extending to homebuyers, investors, and the broader economy. This simplif..

Next Story
Infrastructure Energy

Karnataka Offers 10% Incentive to Boost R&D Manufacturing

The Karnataka government will provide an additional 10% incentive to companies transitioning their research and development (R&D) operations into local manufacturing. This initiative, part of the state’s 2025-2030 industrial policy, aims to boost domestic production, said MB Patil, Minister for Large and Medium Industries. With over 400 Fortune 500 companies having R&D centers in Bengaluru but only 10% manufacturing locally, the revised policy offers flexible incentives, including production-linked and capital-based benefits. Employment-based incentives will also favor firms hiring women. ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?