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Adani Power consolidates ₹19,700-crore loans of 6 SPVs into single long-term debt

Thehindubusinessline

Thehindubusinessline · 1y ago

Adani Power consolidates ₹19,700-crore loans of 6 SPVs into single long-term debt

Adani Power has consolidated the standalone term loan facilities of its six Special Purpose Vehicles (SPVs) into a single long-term loan facility of ₹19,700 crore. This move follows the enhancement of Adani Power's credit rating to AA-. The company expects to benefit from uniform terms, greater financial flexibility, and a reduced effective rate of interest through this consolidation. Additionally, Adani Power's subsidiary, Mahan Energen Ltd (MEL), has entered into a 20-year Power Purchase Agreement (PPA) with Reliance Industries (RIL) for 500 MW under the Captive User policy. RIL will invest ₹50 crore for a 26% ownership stake in the captive unit.

Related News

Merchant misery: Why green power is finding little love on power exchanges

Livemint

Livemint · 2m ago

Merchant misery: Why green power is finding little love on power exchanges

India's green energy firms like Adani Green Energy and ReNew Energy face challenges as solar power prices decline due to abundant supply and slow demand growth. This impacts merchant power, which includes 3 GW of installed or planned capacity. Merchant power is sold on exchanges or through short-term deals instead of long-term contracts. These companies have invested approximately ₹15,000 crore in such projects, struggling with the current pricing dynamics.

India's foreign debt jumps 10% to $736.3 bn; external debt-to-GDP also rises

Economic Times

Economic Times · 2m ago

India's foreign debt jumps 10% to $736.3 bn; external debt-to-GDP also rises

India's external debt rose by 10% to $736.3 billion by March 2025, up from $668.8 billion the previous year, says the Reserve Bank. This led to an increase in the external debt-to-GDP ratio from 18.5% to 19.1%. Long-term debt increased to $601.9 billion, while short-term debt's share decreased slightly. US dollar-denominated debt constituted 54.2% of the total, with loans being the major component. The valuation effect due to currency appreciation accounted for $5.3 billion.

Adani Group says companies have sufficient liquidity, assures investors about servicing debt obligations

Livemint

Livemint · 9m ago

Adani Group says companies have sufficient liquidity, assures investors about servicing debt obligations

Indian conglomerate, Adani Group, has reassured investors of its strong financial position despite the recent US bribery indictment against its founder, Gautam Adani. The group showcased its cash reserves and profits, which are enough to service debt obligations and fund growth plans. The group highlighted cash balances of INR 55,024 crore, exceeding long-term debt repayments for the next 28 months. It also emphasized that equity now accounts for almost two-thirds of its total asset creation, reducing dependency on external debt. Adani Group remains confident in its ability to invest over INR 8 lakh crore across portfolio companies in the next 10 years.

Fitch Ratings says it may cut some Adani Group bonds to junk status

Livemint

Livemint · 9m ago

Fitch Ratings says it may cut some Adani Group bonds to junk status

Fitch Ratings is considering downgrading some bond ratings of the Adani Group to speculative territory following the charges against founder Gautam Adani in a bribery scheme. The US rating company will closely monitor the investigations, as the outcomes could indicate weaker corporate governance practices at the Indian conglomerate. Adani Group denies the allegations and asserts that its portfolio companies have enough liquidity to cover debt-servicing requirements for the next year. Fitch has placed Adani Ports & Special Economic Zone's bonds on watch for a possible downgrade and has also placed Adani Energy Solutions' long-term issuer default ratings on watch.

Adani Group gets ready to raise up to ₹40,000 crore from retail investors, aims to hedge risks: Report | Mint

Livemint

Livemint · 11m ago

Adani Group gets ready to raise up to ₹40,000 crore from retail investors, aims to hedge risks: Report | Mint

Adani Group is planning to raise up to ₹40,000 crore from retail investors over the next few years to diversify funding sources and reduce risk. The group's arm, Adani Enterprises, has already launched its public issue of secured non-convertible debentures worth ₹400 crore, which received full subscription on the first day. The company aims to launch similar public issues for other group entities to decrease its reliance on a limited set of lenders. Adani Enterprises has witnessed a rise in debt, with long-term borrowings increasing by 34.14% year-on-year. However, the company's liquidity position remains strong, with cash reserves covering over 30 months of debt payments.

Adani Power gets NCLT nod to to acquire Lanco Amarkantak Power for ₹4,101 crore | Mint

Livemint

Livemint · 1y ago

Adani Power gets NCLT nod to to acquire Lanco Amarkantak Power for ₹4,101 crore | Mint

Adani Power has received approval from the National Company Law Tribunal (NCLT) to acquire Lanco Amarkantak Power Ltd (LAPL) for an upfront payment of ₹4,101 crore. LAPL is currently undergoing insolvency proceedings and operates a 600 MW thermal power plant in Chhattisgarh. The acquisition is subject to certain conditions and is expected to be completed within 60 days. This acquisition will strengthen Adani Power's position as a leading power producer in India. Additionally, Adani Group plans to reduce debt by selling a 5% stake in Adani Power and Ambuja Cements.

How To Manage Personal Loan? A Step-by-Step Guide

Money Control

Money Control · 10m ago

How To Manage Personal Loan? A Step-by-Step Guide

To effectively manage personal loans, understanding the terms and conditions is key. Creating a budget and setting aside a specific amount of your income for loan repayment is crucial. Prioritizing timely loan repayment through automatic payments helps maintain a good credit score. Monitoring your credit score regularly and addressing any discrepancies is important. Debt consolidation loans may be useful for managing multiple loans. Familiarizing yourself with fees and charges associated with the loan is essential to avoid unexpected financial burdens. Open communication with the lender and long-term financial planning are also necessary.

Morningstar DBRS raises India’s credit rating, citing resilient banking sector and fiscal reforms

Business Today

Business Today · 3m ago

Morningstar DBRS raises India’s credit rating, citing resilient banking sector and fiscal reforms

Morningstar DBRS upgraded India's credit ratings, citing resilient banking and successful fiscal reforms. India’s Long-Term Foreign and Local Currency ratings improved from BBB (low) to BBB with a Stable trend, and Short-Term ratings to R-2 (high). The upgrade highlights structural reforms, fiscal consolidation, and growth, despite high public debt. Banking resilience, reduced non-performing loans, and sound macroeconomic indicators contribute to optimism. Continued reforms and fiscal prudence could further enhance India's credit rating.

Venture debt options for start-ups on the rise

Money Control

Money Control · 1y ago

Venture debt options for start-ups on the rise

Here's some promising news for start-ups in search of debt financing without the need for collateral or early equity dilution. Despite government efforts to encourage collateral-free loans for start-ups and MSMEs, such initiatives have not gained traction. Entrepreneurs are frequently advised that equity capital is costly, as it often entails relinquishing substantial ownership in their firms to venture capitalists. This early dilution can lead to lower long-term returns on their ventures. Debt financing, often considered a more cost-effective alternative, is, however, seldom accessible to start-ups.

Bangladesh accuses Adani Power of breaching multi-billion-dollar energy deal: Report

Livemint

Livemint · 8m ago

Bangladesh accuses Adani Power of breaching multi-billion-dollar energy deal: Report

Bangladesh's interim government has accused Adani Power, an Indian energy supplier, of breaching a multi-billion-dollar deal by withholding tax benefits from a power plant involved in the agreement. Bangladesh hopes to renegotiate the deal, but the exact amount owed and the size of the bill are disputed. Adani Power has denied any wrongdoing and stated it has fulfilled all contractual obligations. Bangladesh aims to utilize a US corruption investigation into Adani Power to push for a resolution. The power plant's tax exemption is part of the ongoing dispute between the two parties.

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