Page 24 - Construction Vision Dec-Jan 2024 Issue

ADANI GROUP PLANS $84 BLN

INFRA SPEND OVER NEXT DECADE

ndia's Adani Group plans to spend 7 News reported earlier, adding that duration capital comes from the global
trillion rupees ($84.00 billion) over the Gautam Adani and his family may retain a capital market, while remaining 20% of
Inext decade on infrastructure minority stake in a personal capacity. shorter-duration capital comes from
projects, Chief Financial Officer domestic market, Singh said.
Adani Wilmar posted a second
Jugeshinder Singh said on Friday.
consecutive quarterly loss in November.
Among Adani Group companies, Adani
"Our capex will go up to run and develop Ports and SEZ , Adani Green Energy,
Shares of Adani Group companies are
infrastructure," Singh said, without Adani Power and within Adani Enterprises,
recovering after a Jan. 24 report by
elaborating on the type of projects the airports and roads may tap the domestic
Hindenburg Research raised concerns over
company would undertake. bond market in near future.
debt levels and the use of tax havens,
The port-to-power conglomerate runs
wiping out nearly $147 billion in market
India's largest private port and is also Singh, however, did not give any further
capitalization from its listed entities.
developing and managing several details on quantum or timeline. The
airports and roads. group may also look at public issue of
The conglomerate has denied all
bonds from February.
allegations.
The billionaire Gautam Adani-led group
will also decide on divesting its stake in Adani Green Energy and Adani
When asked if the company's cost of
Adani Wilmar, its joint venture (JV) with Transmission may tap the overseas bond
funds has risen since the Hindenburg
Singapore's Wilmar International, in the market and issue Regulation-S and
allegations, Singh said that the weighted
next three months, Singh said on the Regulation-D bonds in 2024.
average cost of capital for core infra
sidelines of the Trust group event in
business has always remained between
Mumbai. Adani Green Energy will need to raise
9.25-9.50%.
$350 million of notes to refinance existing
Adani Group holds a 44% stake in the JV debt that will mature in December 2024,
FUNDRAISING PLAN
and has been considering a potential Singh added.
Around 80% of the company's long-
stake sale for a few months, Bloomberg

CONSTRUCTION VISION 22 DECEMBER-JANUARY 2024