Richest Indian Gautam Adani's plan to raise at least $5 billion in equity aims to shut down two of the most frequent criticisms leveled against the Indian tycoon's swelling empire: high debt ratios and a limited investor base. After four years of eyebrow-raising gains -- some Adani Group shares surged more than 2,000% -- Asia's richest person is embarking on a fundraising campaign that will likely include a local share sale as well as buy-in from large investment funds in the Middle East and Canada.

An equity injection of this size is expected to help the conglomerate deleverage and Bloomberg Intelligence sees a successful equity raise across the group supporting the companies' dollar bonds.

Afani group is seeking legitimacy in the face of questions about his group's breakneck expansion from a traditional port operator to a sprawling empire with assets including media, cement and green energy, which critics say has boosted leverage and financial complexity.

Richest Indian Gautam Adani's plan to raise at least $5 billion in equity aims to shut down two of the most frequent criticisms leveled against the Indian tycoon's swelling empire: high debt ratios and a limited investor base. After four years of eyebrow-raising gains -- some Adani Group shares surged more than 2,000% -- Asia's richest person is embarking on a fundraising campaign that will likely include a local share sale as well as buy-in from large investment funds in the Middle East and Canada.

An equity injection of this size is expected to help the conglomerate deleverage and Bloomberg Intelligence sees a successful equity raise across the group supporting the companies' dollar bonds.

Afani group is seeking legitimacy in the face of questions about his group's breakneck expansion from a traditional port operator to a sprawling empire with assets including media, cement and green energy, which critics say has boosted leverage and financial complexity.