Adani Energy Solutions, previously known as Adani Transmission, is in the process of raising USD 360 million (approximately Rs 3,000 crore) through the issuance of bonds on a private placement basis. This announcement was made by Rohit Soni, the Chief Financial Officer of Adani Energy Solutions, during an investor call. The company is looking to raise funds against transmission assets that have been commissioned over the last three to four years.
Soni also mentioned that the company is currently working on the possibility of raising USD 360 million through bonds early next year, with the necessary paperwork already underway. Additionally, there are plans to raise another USD 1 billion, with Soni stating, “we are looking at a billion dollar of raise, so I think we are still working on it, so the time what we have given by year-end that still holds good from our perspective.”
Back in May, the board of Adani Energy Solutions approved the raising of funds through the issuance of equities up to Rs 8,500 crore via qualified institutional placement or other permissible modes.
Adani Energy Solutions, a part of the Adani portfolio, operates in various areas of the energy sector such as power transmission, distribution, smart metering, and cooling solutions. It is the largest private transmission company in the country, with a presence across 16 states in India and a cumulative transmission network of 19,800 circuit kilometers and 53,000 MVA transformation capacity. The company serves more than 12 million consumers in Mumbai and the industrial hub of Mundra SEZ.
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