Wednesday, February 08, 2023

News Destination For The Global Indian Community

News Destination For The Global Indian Community

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Adani Group to restructure debt equity balance

Adani Group to restructure debt equity balance

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.

Adani Group to restructure debt equity balance

Adani Group to restructure debt equity balance

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.

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