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News on Medial
Adani Group to raise up to $500 mn from European funds in energy push
Livemint
·
1y ago
Medial
Adani Green Energy is in the final stages of raising $400-500 million from two European funds. The company, owned by billionaire Gautam Adani's family, plans to sell new shares to raise the funds, which will be used to build new solar, wind, and hybrid power projects in India. Adani Green currently has an operational capacity of 11 GW and aims to expand its capacity to over 20 GW. If the deal goes through, it will be the first time Adani Green raises a significant amount of capital from global funds.
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Jakson Group plans to raise $500 mn for boosting ops
Livemint
·
1y ago
Medial
Energy and infrastructure solutions firm Jakson Group aims to raise around $500 million through a series of equity fundraising rounds beginning in the next fiscal year. The company plans to invest in various sectors related to the energy transition, including solar module manufacturing, green power generation, green hydrogen, biofuels, and battery energy storage systems. Jakson Group plans to raise both equity and debt for these investments and expects to raise a portion of the funds by Q3 2024, with the remainder to be raised in the following one or two years.
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Adani Enterprises in talks with Gulf-based sovereign funds to raise $2 billion through QIP: Report | Mint
Livemint
·
10m ago
Medial
- Adani Enterprises is in discussions to raise $2 billion through a qualified institutional placement (QIP) with investors including ADIA, QIA, and GQG. - The institutional share sale is expected to be launched by the end of October. - The funds raised through the QIP will be used for capital expenditure and to repay debt of the company and its subsidiaries. - Adani Energy Solutions raised nearly $1 billion through QIP, with participation from GQG, Blackrock, Nomura, ADIA, QIA, and domestic mutual funds. - Adani Group plans to raise ₹30,000-₹40,000 crore from retail investors through non-convertible debentures (NCD) to diversify funding sources.
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Adani puts Hindenburg behind with a $3-billion fundraising plan
Livemint
·
1y ago
Medial
The Adani Group is in talks with several global private equity firms and Indian banks to raise $2.5-3 billion in the next four months. Firms such as Centerbridge Partners, Pacific Capital Group, and International Holding Co. have expressed interest in investing in Adani New Industries, Adani Airport Holdings, and Adani Green Energy. The funds will be used to fast-track projects in the airport and renewable energy sectors, including the Navi Mumbai International Airport and the group's green hydrogen and solar panel manufacturing businesses. The Supreme Court ruling on the Hindenburg Research case has renewed interest in the Adani group's projects.
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Tycoon drives India’s push against China’s solar-energy dominance
Livemint
·
9m ago
Medial
India's Adani Group, founded by billionaire Gautam Adani, is establishing a solar supply chain to reduce its reliance on Chinese imports and meet India's renewable energy targets. The group plans to set up indigenous manufacturing of ingots, wafers, cells, and panels, and is constructing a solar farm that will cover an area over five times larger than Paris. India aims to install 500 gigawatts of renewable energy capacity by 2030 but is currently two-fifths of the way there. Adani Group's investments throughout the supply chain, including local manufacturing, offer opportunities to address the tension between renewable energy targets and reducing dependence on Chinese imports.
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Adani Group in talks with West Asian sovereign funds to raise $2.6 billion
Livemint
·
1y ago
Medial
The Adani Group is in advanced talks with sovereign funds in West Asia to raise $2.6 billion for airport expansion and green hydrogen projects. They aim to achieve an EBITDA of ₹80,000 crore by March 2024 and have conducted roadshows in London, Dubai, and Singapore to attract investors. Adani Realty has also secured the contract to redevelop the Bandra Reclamation land parcel in Mumbai. Additionally, Adani Green Energy plans to develop a 30 GW renewable energy plant in Khavda, India, which will be the world's largest upon completion.
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Adani units in talks with MUFG for $250 mn offshore loans
Economic Times
·
1m ago
Medial
Adani Group's subsidiaries, Adani Ports and Adani Airport Holdings, are negotiating to secure $250 million in offshore loans from Mitsubishi UFJ Financial Group (MUFG). Adani Ports aims to raise $100 million, while Adani Airport Holdings looks to secure $150 million. This potential deal would represent the first such loan by MUFG to Adani since allegations of bribery involving Gautam Adani. The Adani port agreement might be finalized soon, and discussions are ongoing with additional Japanese lenders.
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Adani Energy Solutions' board okays raising up to Rs 12,500 cr via equity shares
YourStory
·
1y ago
Medial
Adani Energy Solutions plans to raise up to Rs 12,500 crore through qualified institutional placement or other modes, according to the approval by its board of directors. The final approval from shareholders is scheduled to be sought at the annual general meeting on June 25, 2024. The company aims to issue equity shares or other eligible securities to raise the funds. The filing stated that the funds will be raised in one or more tranches, adhering to applicable laws.
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Gautam Adani ‘bribery’ case: How the troubles began since Hindenburg allegations — a timeline | Company Business News
Livemint
·
8m ago
Medial
The Securities and Exchange Commission (SEC) has charged Adani Group Chairman Gautam Adani and his nephew Sagar Adani, among others, with involvement in a multi-billion-dollar bribery and fraud scheme. The SEC alleges that Adani Green Energy and Azure Power raised funds from US investors, promising bribes to Indian government officials to secure solar energy contracts. This comes after a report by US-based short seller Hindenburg Research alleged stock manipulation and accounting fraud by the Adani Group, leading to significant market value losses. Adani Enterprises also saw a drop in share price and Gautam Adani's net worth.
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TotalEnergies set to acquire renewable energy firm VSB Group for $2.1 bn amid Adani investment halt | Company Business News
Livemint
·
8m ago
Medial
TotalEnergies is reportedly nearing a $2.1 billion acquisition of VSB Group from Partners Group. The deal, expected to be announced soon, would see the French energy company expand its presence in the renewable energy sector. VSB Group is a pan-European renewable energy company known for developing and managing wind and photovoltaic parks. The Swiss private equity firm owns an 80% stake in VSB Group and has been looking to divest some of its infrastructure assets. TotalEnergies recently decided to halt new investments in Adani Group companies in India.
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Adani Group’s 12-month trailing EBITDA up 34.4 per cent YoY
Thehindubusinessline
·
1y ago
Medial
The Adani group reported strong financial performance in 2023, with a 34.4% increase in EBITDA. The group aims to invest around $100 billion in renewable energy over the next few years. It ended 2023 with a cash balance of $4.5 billion and raised funds of ₹91,290 crore during the first nine months of FY24. Adani Enterprises houses emerging businesses like airports, green hydrogen, and data centers. Adani Green Energy plans to increase its renewable capacity from 9 GW to 45 GW by 2030. Adani Ports and Special Economic Zone recorded a cargo handling volume of 311 million tonnes in FY24.
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