Adani Enterprises, Adani Ports shares in focus as Adani group eyes Rs 15,000 crore fundraise

Shares of Adani Enterprises Ltd and Adani Ports & SEZ would in focus on Tuesday morning amid a report that suggested that the two Adani group firms, along with some unlisted Adani entities, would be tapping the bond market soon. As per Bloomberg, the Adani group is looking to raise a total of Rs 15,000 crore via bond market. Adani Group is reportedly planning to raise the funds this financial year and the notes would likely be sold in lots of listed and unlisted bonds worth Rs 500 crore to Rs 1,000 crore to meet capital expenditure requirements, reported Bloomberg.

Along with the two listed firms, Adani Electricity Mumbai, Mumbai International Airport, Mumbai International Airport will be the first to come up with local-currency debt sale. The plan is likely to gather steam in two months and the amount eventually raised could be double the initial size, a source told Bloomberg.

Deliberations are still on and nothing is finalised, the Bloomberg report said.

Earlier this month, Gautam Adani said he was confident of the group's governance and disclosure standards after a Supreme Court panel found no lapse at the conglomerate, slamming the short-seller's report a "malicious attempt" at damaging its reputation.

Adani Group is also in talks with Barclays Plc, Deutsche Bank AG and Standard Chartered Plc to borrow between $600 million and $750 million to refinance debt taken on to finance its purchase of Ambuja Cements Ltd, Bloomberg reported last week. Separately, Adani New Industries Ltd. has raised Rs 3,231 crore through a trade finance facility from Barclays and Deutsche Bank for a solar module project.

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