India’s Adani Group is said to be planning to invest over $150bn across its businesses to achieve a $1tn valuation as per PTI news. Adani Group’s CFO recently said that the conglomerate was planning to invest $50-70bn in its green hydrogen business and $23bn in green energy over the next 5-10 years. He added that $7bn will be for electricity transmission, $12bn for the transport utility sector, and $5bn for the road sector. Regarding its data centre business a $6.5bn investment in partnership with Edge ConneX is planned and $9-10bn is planned for investments into its airports. Adani Group also plans to invest $2bn in its petrochemical business and another $7-10bn in its healthcare businesses. The Group’s market cap currently stands at over $260bn and it plans to join only a handful of trillion dollar companies globally. Adani Group was recently said to be seeking a $10bn debt raise over the next year by issuing offshore and green bonds. Its broad investment plans and debt raising efforts, have been a growing concern for analysts, most notably for CreditSights which takes the view that Adani “has an elevated leverage at present, and is likely to remain so in the coming years”.
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