Adani Group: Adani Group accelerates fund raising exercise, meets investors like Pimco and Blackrock in America

Adani Group: Adani Group has once again intensified the fund raising exercise. Group officials have met investors in the US, including BlackRock, Blackstone and Pacific Investment Management (PIMCO). The Group is marketing the Private Placed Bonds of some of its companies. Adani Group is in the process of raising one billion dollars through this route. 

In the report quoted by Bloomberg, these things have come to the fore regarding the Adani group. This meeting with American investors was part of the company’s global roadshow. The Adani group has done roadshows in New York, Boston, Los Angeles, and San Francisco in the US. Through the roadshow, the group wants to win the trust of global investors and assure them about the business of the group. In the month of February itself, reports came out that Adani Group is considering offering private placed bonds of three of its companies.      

Work on documentation of private placed bonds will start from April and the first phase will be launched by September 2023. In the first phase, the group is preparing to raise $ 450 million. The privately placed bonds will be for 10 to 20 years and the coupon rate is expected to be around 8 per cent. 

On January 24, 2023, after the report of short seller Hindenburg Research came out, there was a decline in the stocks of Adani Group. But due to this report, raising funds for the company was affected. Due to which the group is pulling back from many projects. Market cap of Adani group reduced by $153 billion after Hindenburg report. 

Adani Group has done roadshows in Singapore and Hong Kong. The company got a big relief when American private equity firm GQG Partners (GQG Partners) sold shares of four subsidiary companies Adani Ports and Special Economic Zone Limited, Adani Green Energy, Adani Transmission and Adani Enterprises in a block deal.  

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