Home Business Adani Group in talks with investors to raise $10 billion: Report

Adani Group in talks with investors to raise $10 billion: Report

India’s Adani in talks with investors to raise $10 billion: Report

Bengaluru:

Billionaire Gautam Adani and his family are in early discussions with investors, including Singapore-based investment firms Temasek and GIC, to raise at least $10 billion to fund their expansion into clean energy, ports and cement businesses, Mint newspaper reported on Monday. informed to.

The Adani Group will invest more than $100 billion over the next decade, much of it in the energy transition business, its chairman Adani said last month, as the port-to-energy group accelerates an already aggressive expansion plan.

Members of the Adani family and top group executives interacted with several potential investors, the report said, citing two people with direct knowledge of the plans of the Adani Group and the Adani family.

The group’s promoters and top management were in Singapore last week after meeting West Asian and American investors, one of the people was quoted as saying.

Citing another person, the report also said that the capital would be raised through several stages and possibly through stake sale in group firms or entities affiliated to the promoter group.

Singapore’s sovereign wealth fund GIC and Adani Group did not immediately respond to requests for comment from Reuters. Temasek said it does not comment on market speculation and rumours.

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