Adani: Adani raises $1.4 billion from stake sale in 3 companies; $9 billion raised in 4 years - Times of India
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NEW DELHI: Billionaire Gautam Adani has raised $1.38 billion (Rs 11,330 crore) through stake sale in three group companies, taking the total capital raised over four years to $9 billion as the conglomerate draws interest from a cross-section of investors. In a statement, the ports-to-energy conglomerate said it "is committed to raising capital to fulfill its 10-year roadmap of the transformative capital management program, which was formulated in 2016 to execute the plans for various portfolio companies." "In the most recent instance, Adani family has raised $1.38 billion (Rs 11,330 crore) through stake sale in the three portfolio companies - Adani Enterprises Ltd, Adani Green Energy Ltd and Adani Transmission Ltd," it said. "This ensures higher capital availability at the group level, for growth as well as near-term commitments of both debt and equity for the portfolio companies over the next 12-18 months." In addition, the three portfolio ...