The Adani Group is actively pursuing a fund-raising endeavor, seeking to secure up to $2.6 billion from prominent sovereign funds primarily located in the Middle East. This financial initiative aims to fortify the group's ongoing airport expansion projects and ventures in the burgeoning green hydrogen sector.
According to reports from Business Standard, the Adani Group has engaged in a series of discussions with potential investors through road shows conducted in key financial hubs such as London, Dubai, and Singapore.
Although the specific timeline for the fundraising campaign remains undetermined, market expectations anticipate its commencement by the middle of 2024.
In presentations to potential investors, the Adani Group has underscored recent rating upgrades bestowed upon its entities by leading global rating agencies, including Moody’s and S&P. These ratings affirmations, alongside the restoration of a 'stable outlook' for five entities, serve as notable indicators of the group's financial resilience and operational strength.
Additionally, Fitch Ratings has upheld the ratings of all issuers within the Adani conglomerate, maintaining a stable outlook. This positive assessment is bolstered by the group's concerted efforts over the past year to reduce debt, mitigate founders' share pledges, and secure significant projects, fostering renewed confidence among investors and lenders alike.
The group's strides towards financial stability have been further evidenced by the recovery of its stocks and bonds, as well as the infusion of fresh equity capital from esteemed investors such as GQG Partners LLC and the Qatar Investment Authority. These developments underscore the Adani Group's strategic vision and concerted efforts to propel its growth trajectory amidst evolving market dynamics.
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