Very good news is coming for Gautam Adani’s Adani Group. This news has come from Japan, where three banks have given assurance of investment in Adani Group. Which includes Mitsubishi UFJ Financial Group, Sumitomo Mitsui Banking and Mizuho Financial Group. These three banks are not the lenders of Adani Group at present. The funds received from the three banks will help in refinancing the high cost loans as well as revive the slow and stalled projects of the group. Let us tell you that after the report of American short-seller Hindenburg Research, more than half of the market cap of Adani Group was destroyed, after which Gautam Adani did roadshows in Asia and Europe to win the confidence of investors and Gautam Adani Got a very good response too.
GQG will invest again
The FE report quoted sources as saying that existing lenders, including Standard Chartered and Barclays, have also reposed their faith in the group. On the other hand, all banks have supported refinancing of existing and new loans in FY 2024 and FY 2026. Adani Group has bonds worth $4 billion maturing in FY2024 and FY2026. On the other hand, GQG Partners can also invest more in Adani Group. This is the same American investor who invested Rs 15,446 crore in Adani Enterprises, Adani Green Energy, Adani Ports and Adani Total Gas.
Which business is Adani eyeing?
Adani Group companies are engaged in executing projects on a large scale in the infra and utility sectors and cash flow is needed for these projects. At the same time, talks are on to raise about $800 million for New Energy Green Energy Projects. Work is on to increase capacity in its cement business. During the roadshow, the group informed investors that the company is looking to grow its infra, cement and FMCG businesses.
How much is the debt on Adani Group
There is no dearth of debt on Adani Group. According to statistics, Adani Group has a debt of Rs 2.27 trillion as of March 2023. Out of which 39 per cent is in the form of bonds. Out of the total debt, 29 percent is taken as loan from international banks. If we talk about local banks and NBFCs, then their share is 32 percent. In lieu of this, the group has total assets of Rs 3.91 trillion. Let us tell you that Adani Group has started the exercise of returning the loan of banks in the form of partial payment.