Three Adani Group companies, namely Adani Enterprises, Adani Green and Adani Transmission are planning to raised a combined $3-5bn, as per sources. All three companies said they would be holding board meetings during the weekend to consider the potential fundraise. Adani Enterprises was said to consider a share offering with details regarding the size of the potential issuance and the bankers it plans to hire not yet revealed. However, Abu Dhabi-based IHC, an existing investor in Adani Group’s companies said they do not plan to participate in any potential share or bond sales.
Adani group companies’ dollar bonds were trading steady – Adani Ports’ 3.375% 2024s were at 96.40, yielding 6.56%.
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