This will be the first overseas fund raising by the group after the Hindenburg report in January last year which led to a big slide in the conglomerate’s market cap. However, the group has recovered from its impact over the past few months
Adani Green Energy Ltd, the renewable energy arm of billionaire Gautam Adani s conglomerate, plans to raise USD 409 million through US dollar-denominated bonds to repay a debt obligation falling this year.
Adani Green Energy share price jumped almost 6 per cent in morning trade on BSE on February 15, in a weak market. The company recently operationalised a 551 MW solar capacity in Gujarat and plans to develop a 30 GW renewable energy plant in Khavda, India.
Moody s upgraded the ratings of two green energy firms and two electricity generation and distribution firms following improved financials, timely debt repayments and a capital infusion.