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Adani family plans to raise $3.6 bn via promoter share sales

Livemint

Livemint · 11m ago

Adani family plans to raise $3.6 bn via promoter share sales

The Adani family, owners of businesses ranging from airports to edible oil, is expected to raise up to $3.6 billion by selling part of its promoter holdings in Adani group companies over the next 12-18 months. This comes as a strategy to rebalance their wealth portfolio due to the sharp increase in Adani Group firm's share prices in the past year. The family's share-sale plan includes a 0.5-3% monetization of promoter stake, beginning with the sale of a stake worth ₹3,000-4,000 crore in Ambuja Cements Ltd. Other unlisted businesses may also see stake sales.

Related News

Saudi airline flynas launches IPO to raise up to $1.1 bn

VCCircle

VCCircle · 2m ago

Saudi airline flynas launches IPO to raise up to $1.1 bn

Saudi Arabian budget airline flynas, backed by Prince Alwaleed Bin Talal, aims to raise up to $1.1 billion via an IPO in Riyadh, selling a 30% stake at 76 to 80 riyals per share, valuing the company at up to $3.6 billion. The IPO, the first by a Gulf airline in nearly two decades, supports Saudi Arabia's tourism growth strategy, reducing oil dependency. Proceeds will support flynas's growth and shareholder distributions.

We’ll lift Zee stake to 26%; no plan to raise external funds: Subhash Chandra

Livemint

Livemint · 1y ago

We’ll lift Zee stake to 26%; no plan to raise external funds: Subhash Chandra

Zee Entertainment, the Indian media giant, is facing pressure to remove its promoter family following a failed merger with Sony Pictures. Founder Subhash Chandra has voiced support for his son, Punit Goenka, as the right person to lead the company, and aims to increase the family's stake in Zee from 4% to 26%. Chandra stated that Zee is a profitable, zero-debt company and urged shareholders to be patient. He also revealed plans for the promoter family to raise their shareholding in Zee without raising external funds.

Adani Group to sell stake in joint venture to Wilmar for $1.4 bn

VCCircle

VCCircle · 6m ago

Adani Group to sell stake in joint venture to Wilmar for $1.4 bn

The Adani Group plans to sell its stake in Adani Wilmar to joint venture partner Wilmar International for $1.44 billion, aiming to focus more on infrastructure projects. Adani Enterprises will divest a 13% stake to meet India's minimum public shareholding requirements. Wilmar will acquire Adani's remaining 31% stake at a maximum price of 305 rupees per share. Proceeds will support growth in core infrastructure sectors, subject to regulatory approvals.

Whirlpool promoter entity plans to sell up to 24% stake worth $451 million

Money Control

Money Control · 1y ago

Whirlpool promoter entity plans to sell up to 24% stake worth $451 million

Whirpool Mauritius Ltd, a promoter entity of Whirpool of India, plans to sell up to 24 percent of the local unit via a block deal for $451 million. The promoter group, currently owning

Adani Enterprises’ $1.3 billion stake sale expected to start early next week: Report | Mint

Livemint

Livemint · 9m ago

Adani Enterprises’ $1.3 billion stake sale expected to start early next week: Report | Mint

- Adani Enterprises is planning to launch a share sale as early as next week, aiming to raise about $1.3 billion through a qualified institutional placement. - The share sale will mark Adani Enterprises' return to public equity markets following a scathing short-seller report in 2023. - The company received board approval in May to raise up to $2 billion through various methods, including a share sale to institutions. - Adani Enterprises' successful share sale will serve as a vote of investor confidence for the conglomerate. - ICICI Securities, Jefferies Financial Group, and SBI Capital Markets are assisting Adani Enterprises with the share sale. - Adani Enterprises' shares have risen 12% this year, but are still about 7% below pre-short-seller report levels.

Abu Dhabi, Qatar wealth funds back Adani Energy's share sale of up to $1 bn

VCCircle

VCCircle · 11m ago

Abu Dhabi, Qatar wealth funds back Adani Energy's share sale of up to $1 bn

Abu Dhabi Investment Authority and Qatar Investment Authority have reportedly invested in Adani Energy Solutions' share sale in India, supporting the company with up to $1 billion. This marks Adani Group's first equity fundraising since a previous $2.5 billion share sale was cancelled due to accusations of offshore tax havens and stock manipulation. The recent investment is expected to aid Adani in recovering from the sell-off that occurred after the accusations were made. The share sale by Adani Energy, the power transmission and distribution company, raised funds through a Qualified Institutional Placement.

Adani Group to nearly double FY25 capex at ₹1.3 trillion

Livemint

Livemint · 1y ago

Adani Group to nearly double FY25 capex at ₹1.3 trillion

Indian conglomerate Adani Group plans to increase its capital expenditure to INR 1.3 trillion ($17.4 billion) in FY25, nearly doubling the previous year's spending. The group aims to fund this expansion through a combination of debt and equity, including internal accruals and promoter capital. The majority of the investment will be allocated to infrastructure and utilities, particularly in the renewable energy sector. Adani is also planning to raise between $2.5 billion and $3 billion from selling shares in its group companies this fiscal year. This move comes as the Indian government encourages private sector participation in capital expenditure to support economic growth.

Adani Group to raise up to $500 mn from European funds in energy push

Livemint

Livemint · 1y ago

Adani Group to raise up to $500 mn from European funds in energy push

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.

Adani Enterprises in talks with Gulf-based sovereign funds to raise $2 billion through QIP: Report | Mint

Livemint

Livemint · 9m ago

Adani Enterprises in talks with Gulf-based sovereign funds to raise $2 billion through QIP: Report | Mint

- 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.

Adani Green to raise $1.12 bn to expand renewable energy capacity

VCCircle

VCCircle · 1y ago

Adani Green to raise $1.12 bn to expand renewable energy capacity

Adani Green Energy, an Indian renewable energy company, will receive a $1.12 billion investment from its key shareholders to expand its renewable power capacity. The company plans to issue 63.1 million warrants on a preferential basis, with each warrant convertible into an equity share. The funds will be used to reduce debts and accelerate investment in various projects. Adani Green aims to achieve its target of 45 GW renewable capacity by 2030, up from the current 8.4 GW. The company has already raised $3 billion for its renewable capacity.

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