New Delhi: Gautam Adani-owned conglomerate, Adani Group, has elevated $1.38 billion (11,330 crores) from stock sales in three group firms, which brought the total raised amount for the past four years to $9 billion as the company attracted a bunch of investors.
The conglomerate issued a statement and said, ”In the most recent instance, the Adani family has raised USD 1.38 billion (Rs 11,330 crore) through stake sale in the three portfolio companies – Adani Enterprises Ltd, Adani Green Energy Ltd and Adani Transmission Ltd,” it said. ”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.”
The stock sales of the three companies have been approved by the board for main issuances through a share sale to investors. Portfolio companies that have received global investment coming from the infrastructure range, energy and utilities to transport and logistics.
The company in its statement highlighted the faith and confidence shown by these large global investors and the Adani Group’s commitment to the highest level of governance.
All the conglomerate’s efforts were directed to achieve its 10-year plan of the transformative capital management program, which was put together in 2016 to carry out strategies for various portfolios, the statement said.
(Written by – Mahek Nigam
Edited By – Prateek Gautam)
