New Delhi. Adani Group will raise Rs 30,000 to Rs 40,000 crore from retail investors in the next 3-4 years. Its purpose is to diversify the source of funds and reduce risk. Sources familiar with the matter gave this information. Adani Enterprises, the leading company of Adani Group, has launched the first non-convertible debentures i.e. NCDs of Rs 400 crore. The tenure of NCDs is from 2 to 5 years and their effective annual yield is 9.25 percent to 9.90 percent. This return is more than the return given by banks on FDs. This NCD was fully subscribed on the very first day. This issue will close on September 17.
A source said on the condition of anonymity, ‘The group plans to launch similar public issues (NCDs) for other entities as well. This will help the group to diversify its debt in ways other than just bank-based. Currently, most of the group’s loans are with government and private banks.’
Total loan from financial institutions is Rs 88,100 crore
According to the latest corporate filing of the Adani Group, various entities of the group have taken a total loan of Rs 88,100 crore from banks and financial institutions. This loan is in the category of long term and working capital. This figure of the group’s loan is till March 31, 2024. Adani Enterprises also acts as an incubator for the new business of the group.
Short-term borrowing rises to Rs 4,897 crore
According to the recent investor presentation, the company’s long-term borrowing increased from Rs 32,590 crore to Rs 43,718 crore in FY 2022-23. Similarly, short-term borrowing increased from Rs 4,244 crore to Rs 4,897 crore. The company’s total debt increased from Rs 38,320 crore in FY 2022-23 to Rs 50,124 crore in FY 2023-24. However, the company’s cash, bank balance and current investments increased from Rs 5,539 crore to Rs 8,523 crore.
(Disclaimer: Please consult a certified investment advisor before investing.)
Tag: Adani Group, Bank FD, FD Rates, Fixed deposit, Gautam Adani
first published : September 5, 2024, 7:43 PM IST
