Adani group aims to raise Rs 210 bn through stake sale in two companies

17 May 2023 CW Team

Last week, the Adani Group announced its intention to raise funds in three of its group companies: Adani Enterprises, Adani Green Energy, and Adani Transmission. A report from a news publication on May 12 indicated that the group was considering selling new equity in these companies to raise up to $2.5 billion.

Adani Transmission, a company engaged in power transmission and distribution, currently has seven under-construction greenfield projects with a combined length of 3,505 circuit kilometers (ckm) and a project cost of approximately Rs 163 billion. Industry estimates suggest that the company's capital expenditure (capex) requirement over the four-year period from FY23 to FY26 is around Rs 64 billion. On the other hand, Adani Enterprises has planned a capex of Rs 400 billion for its various group businesses, with a significant portion allocated to airport projects.

Adani Green Energy has rescheduled its board meeting, originally scheduled for May 13, to May 24, citing certain exigencies.

According to the news reports May 12, the fundraising will involve a primary equity infusion aimed at debt repayment and long-term capital expenditure. In early March, the Adani Group sold shares in four companies to US investment firm GQG Partners for $1.9 billion. The Adani Enterprises follow-on public offer (FPO), which sought to raise $2.5 billion, was withdrawn in February following the release of the Hindenburg Research report, which alleged fraud and stock manipulation. The Adani Group has refuted the report's claims and denied any wrongdoing.

Both a Supreme Court-appointed panel and the market regulator Sebi are investigating the Hindenburg findings and examining market-related issues. A bench led by Chief Justice DY Chandrachud has scheduled a hearing on May 15 for public interest litigation suits related to the matter, as well as an application from Sebi seeking additional time for the probe.

Also Read
Foxconn breaks ground on $500 million factory in India
Green Hydrogen firm H2B2 to go public through $750 mn SPAC agreement

Adani Enterprises (AEL) and Adani Transmission (ATL) have received approval from their respective boards on Saturday to proceed with raising a total of $2.5 billion through qualified institutional placements (QIPs). Adani Enterprises aims to raise Rs 125 billion, while Adani Transmission plans to raise Rs 85 billion. Both companies have stated in separate regulatory filings that the funds will be raised through the issuance of shares or other eligible securities. Last week, the Adani Group announced its intention to raise funds in three of its group companies: Adani Enterprises, Adani Green Energy, and Adani Transmission. A report from a news publication on May 12 indicated that the group was considering selling new equity in these companies to raise up to $2.5 billion. Adani Transmission, a company engaged in power transmission and distribution, currently has seven under-construction greenfield projects with a combined length of 3,505 circuit kilometers (ckm) and a project cost of approximately Rs 163 billion. Industry estimates suggest that the company's capital expenditure (capex) requirement over the four-year period from FY23 to FY26 is around Rs 64 billion. On the other hand, Adani Enterprises has planned a capex of Rs 400 billion for its various group businesses, with a significant portion allocated to airport projects. Adani Green Energy has rescheduled its board meeting, originally scheduled for May 13, to May 24, citing certain exigencies. According to the news reports May 12, the fundraising will involve a primary equity infusion aimed at debt repayment and long-term capital expenditure. In early March, the Adani Group sold shares in four companies to US investment firm GQG Partners for $1.9 billion. The Adani Enterprises follow-on public offer (FPO), which sought to raise $2.5 billion, was withdrawn in February following the release of the Hindenburg Research report, which alleged fraud and stock manipulation. The Adani Group has refuted the report's claims and denied any wrongdoing. Both a Supreme Court-appointed panel and the market regulator Sebi are investigating the Hindenburg findings and examining market-related issues. A bench led by Chief Justice DY Chandrachud has scheduled a hearing on May 15 for public interest litigation suits related to the matter, as well as an application from Sebi seeking additional time for the probe. Also Read Foxconn breaks ground on $500 million factory in IndiaGreen Hydrogen firm H2B2 to go public through $750 mn SPAC agreement

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Equipment

10 Mar 2026

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

Equipment

10 Mar 2026

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..