Gautam Adani’s firm plans to raise Rs 215000000000, Adani Group likely to invest big in…

Gautam Adani led Adani Group is reportedly in talks with sovereign funds in West Asia to raise a funding of more than Rs 215000000000. As the conglomerate is rapidly recovering from the Hindenburg saga, is planning to expand in airport and green energy projects throughout the country. As per a report by Business Standard, Gautam Adani’s Adani Group aims to secure over Rs 21500 crore funding to go big in the green energy sector. The conglomerate has reportedly reached the advanced level of the talks.

Citing sources close to the development, a report by Business Standard further suggested that a key firm of Adani Group, Adani Enterprises will likely bring down its stake in either green hydrogen business or the airport-holding firm, or both, for the investment funds. As such there is no speculative timeline of the funding that has been suggested.

Over the past few weeks, Adani Group conducted several roadshows in London, Dubai, and Singapore to get attention of potential investors. The group is aiming for an EBITDA of Rs 80000 crore by March 2024.

After taking a hit post Hindenburg saga, Adani Group raised massive funding from numerous giants including Qatar Investment Authority, TotalEnergies and GQG Partners. The conglomerate also announced plans to invest Rs 62400 crore in Maharashtra and Telangana as part of its seven trillion-rupee expenditure plan for the next decade.