Adani eyes $2.5 bn in pvt placements

Gour companies to jointly raise amount that flagship targeted in Jan FPO

- Anirudh Laskar

The Adani group is considering a plan to raise as much as $2.5 billion by selling shares in four group companies, three months after it was forced to withdraw a follow-on public offer by flagship Adani Enterprises to raise the same amount.

Of the four companies, three—Adani Enterprises Ltd, Adani Green Energy Ltd and Adani Transmission Ltd—have already announced plans to raise an unspecified amount through private placements, two people aware of the matter said. Adani Ports and Special Economic Zone Ltd will soon announce a plan to hold a board meeting next week, the people said on condition of anonymity.

“To start with, the group will raise about $1 billion through the issuance of fresh equity in a private placement of shares," said one of the two people cited above, both of whom spoke on condition of anonymity.