Gautam Adani-led Adani Group plans to raise $5 billion
A source said the group has discussed raising $10 billion. Adani Enterprises Ltd., the flagship company of Adani Group, is preparing to raise $1.8 to 2.4 billion by next year. The company’s board will meet on November 25 to discuss fund raising. Sources said discussions are on in this regard and no final decision has been taken. Adani Group, Mubadala, ADQ and ADIA declined to comment.
on the way to ambani
According to sources, banks have asked Adani Group to reduce debt to improve the debt ratio. This will also increase the liquidity in the shares of the company. Research firm CreditSights said in a report in September that Adani Group companies have high debt. However, Adani Group had rejected this and said that the debt ratio of its companies is in line with the standards. Mukesh Ambani raised more than $ 27 billion in the year 2020 by selling stake in several companies of Reliance Industries.
