Diversified Conglomerate Adani Group’s portfolio companies, Adani Transmission Limited (ATL) and Adani Green Energy Limited (ATGL), topped the Group’s infrastructure companies that raised investments from top global investors.
Adani Group on Sunday informed that five of its portfolio companies, including Adani Total Gas Limited (ATGL), Adani Enterprises Limited (AEL), and Adani Ports and Special Economic Zone Ltd. (APSEZ) besides ATL and AGEL have collectively received investments worth over $9 billion since 2019 from long-only overseas investors.
The Group informed that the fund raising has been in line with the group’s capital management philosophy of enabling the participation of strategic long-term investors.
These include the likes of Qatar Investment Authority (QIA), TotalEnergies (TTE), International Holding Company (IHC), as well as GQG Partners (GQG), along with its co-investors Australia Super, Goldman Sachs, University of Texas, 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 Employees Retirement System of Texas.
Adani Group further stated that it had started the capital transformation journey for its core infrastructure portfolio in 2019 and that the program paved the way for long-only global investors to participate in the infrastructure development projects of the Adani portfolio.
The portfolio companies that received global investment belong to the infrastructure spectrum, from energy and utilities to transport and logistics.
In the most recent instance, the Adani family has raised $1.38 billion (₹11,330 crore) through stake sale in the three portfolio companies—AEL, AGEL, and ATL, the statement said.
Additionally, the three portfolio companies have also received board approval for primary issuances.
This ensures higher capital availability at the group level for growth as well as near-term commitments of both debt and equity for the portfolio companies over the next 12–18 months, the Group said, adding that its ongoing 10-year capital program, formulated in 2016, will be concluded in 2025.
A similar stake sale by the family in March 2023, aggregating to $1.87 billion (₹15,446 crore), resulted in full prepayment of margin-linked, share-backed financing.
The faith and confidence shown by these large global investors are proof of the underlying strength of the group’s businesses and the Adani Group’s commitment to the highest level of governance, it said.
Adani is committed to raising capital to fulfill its 10-year roadmap of the transformative capital management program, which was formulated in 2016 to execute the plans for various portfolio companies, the statement said.
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