The Adani Group on Sunday said it has raised over USD 9 billion in the last four years from some of the leading global investors like Qatar Investment Authority (QIA) and GQG Partners (GQG). The group, which came under fire in January this year following a damaging report by US-based short-seller Hindenburg Research, has attracted investments in various listed entities — Adani Ports and Special Economic Zone Ltd (APSEZ), Adani Green Energy Ltd (AEZ). AGEL), Adani Transmission Limited (ATL), Adani Total Gas Limited (ATGL) and Adani Enterprises Limited (AEL).
In a statement, the Gautam Adani-led group said it has attracted large-scale investments from Qatar Investment Authority (QIA), Total Energies (TTE), International Holding Company (IHC) as well as GQG Partners (GQG). Its co-investors are Australia Super, Goldman Sachs and the University of Texas.
The group has also secured investments from the Delaware Public Employees Retirement System, Master Trust Bank of Japan, Missouri Education Pension Trust, Abu Dhabi Investment Authority, Universal-Investment Luxembourg, New York State Common Retirement Fund and Employee Retirement System of Texas.
In the most recent instance, the Adani family has raised $1.38 billion through stake sales in three portfolio companies – AEL, AGEL and ATL. “This ensures higher capital availability at the group level for the growth of both debt and equity for portfolio companies over the next 12-18 months, as well as near-term commitments.” In addition, three portfolio companies have also received board approval for a primary issue. ”
The port-to-power group, which has seen some improvement in its shares in recent times, said the trust and confidence shown by these large global investors is “a testament to the inherent strength of the group’s businesses and the commitment of the Adani Group.” “The highest level of governance”.
The sale of a similar stake of $1.87 billion by the family in March 2023 resulted in full prepayment of margin-linked, share-backed financing and created flexibility to equalize debt capital in a rising rate environment, the company said. “Adani is committed to raising capital to complete its 10-year roadmap of transformational capital management programme, which was prepared in 2016 to execute plans for various portfolio companies. “
