Adani raises $9 bn via stake sale in 4 yrs

New Delhi Billionaire Gautam Adani has raised $1.38 billion (Rs11,330 crore) through stake sale in three group companies, taking the total capital raised over four years to $9 billion as the conglomerate draws interest from a cross-section of investors.

In a statement, the ports-to-energy conglomerate said it is committed to raising capital to fulfill its 10-year roadmap of the transformative capital management program, which was formulated in 2016 to execute the plans for various portfolio companies. “In the most recent instance, Adani family has raised $1.38 billion (Rs11,330 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.”