Two Adani Group companies are set to raise up to $3.5 billion through qualified institutional placements. Today, the board of Adani Enterprises approved raising up to ₹16,600 crore while on Monday Adani Energy Solutions had approved raising up to ₹12,500 crore.

In 2023, three Adani Group companies had received board approval to raise around $4 billion through QIPs, but the fund raising did not take place at that time. Company insiders said that the it was revisiting the fund raising plans and intended to go through with it this time. It was also an enabling approval so that the companies can raise the funds when required.

In FY25, Adani Enterprises is looking to spend around ₹80,000 crore ($9.6 billion), its deputy chief financial officer Saurabh Shah had said in an earnings call to discuss FY24 results. Of this, a major portion of ₹50,000 crore was earmarked for the airports and new energy business housed under Adani New Industries.

Of the remaining, around ₹12,000 crore would be spent on roads, about ₹10,000 crore on the new PVC business and the remaining in data centers.

Adani Energy Solutions has a planned capex of ₹6,000 crore in FY25, while it will spend on smart meters over and above this, according to the management.

Foray into digital payments

Meanwhile, the Adani Group is set to make an entry into the e-commerce and payments segment, the Financial Times reported, saying that the conglomerate was weighing applying for a license to operate in the public digital payments network. The report said that it was in talks with banks to finalise plans for a co-branded credit card, which was previously announced.

There was no official confirmation on this from the Adani group, but the group does have an app Adani One, which currently allows flights, bus, trains, hotels and cab bookings. Insiders had previously told businessline that there were plans to develop this into a super app offering a whole gamut of e-commerce services. Online shopping is on the anvil and is shown as ‘coming soon’ on the app.

The FT report said that online and payments services would be available on the Adani One app.

The Adani group has drawn up a technology roadmap where it plans to leverage software to unlock value from existing business adjacencies and creating internal platforms with the potential for external commercialisation.

Talking about Adani One, the roadmap talks about all its businesses – airports, utilities, real estate consumer goods – reaching million of customers under a B2B2C model. The services super app will serve as a vast marketplace for Adani and its partners.

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