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

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code