Latest News | Adani Energy Solutions Plans to Raise USD 360 Million Via Bonds
Get latest articles and stories on Latest News at LatestLY. Adani Energy Solutions (AESL), earlier known as Adani Transmission, is planning to raise USD 360 million (around Rs 3,000 crore) through issuing bonds on a private placement basis.
New Delhi, Nov 14 (PTI) Adani Energy Solutions (AESL), earlier known as Adani Transmission, is planning to raise USD 360 million (around Rs 3,000 crore) through issuing bonds on a private placement basis.
"...we are looking for a private placement of USD 360 million of transmission assets which were commissioned in the last three to four years," Rohit Soni, Chief Financial Officer of Adani Energy Solutions, said during an investors call.
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He further informed that the company is still working if it can get (raise USD 360 million) via bonds early next year and the work is still in progress.
He also informed that paperwork (for the bond issue) are underway.
Soni also told analysts about the company's plan to raise another USD 1 billion, saying, "we are looking at a billion dollar of raise, so I think we are still working on it, so the time what we have given by year end that still holds good from our perspective."
In May this year, the board has approved raising of funds by way of issuance of equities worth up to Rs 8,500 crore by way of qualified institutional placement or other permissible mode.
AESL, part of the Adani portfolio, is a multi-dimensional organisation with presence in various facets of the energy domain, namely power transmission, distribution, smart metering, and cooling solutions.
AESL is the country's largest private transmission company having presence across 16 states of India and a cumulative transmission network of 19,800 circuit kilometers and 53,000 MVA transformation capacity.
AESL serves more than 12 million consumers in Mumbai and the industrial hub of Mundra SEZ.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)