The Adani Group is planning to borrow a lot of money, around $600 million (around 4800 crores), from lenders outside the country. In this situation, question may be Did Adani Group suffer a Shortage? Please read the complete article to know detailed about it.
Adani needs this money to pay off the debts they already have. The news sources also said that the interest rate will be based on Secured Overnight Financing Rate.
Gautam Adani’s companies want to borrow $600 million from lenders outside the country to pay off old debts. Adani’s company faced some problems last year but is now getting back on track. Recently, Adani had a successful bond sale. This shows that investors still trust them.
The Indian government is planning to set up 250 million smart meters across the country by 2025. Around 80 million of these meters are still in the tendering process, which shows there’s room for growth, according to Adani Energy. India introduced the Revamped Distribution Sector Scheme in 2022 to enhance the efficiency and financial stability of power distribution companies.
Adani Group to borrow $600 and raised by Dhamra LNG Terminal Pvt Ltd
The loan will be taken by a company called Dhamra LNG Terminal Pvt, which is part of Adani Total Pvt Ltd. According to some sources, the loan could last for 3-5 years.
The Adani Group, which includes businesses from ports to power, is talking to banks like Credit Agricole, DBS Bank Ltd., BNP Paribas, Mitsubishi UFJ Financial Group Inc, and Mizuho Bank Ltd. about a planned loan deal. According to a report by Bloomberg, Adani is expected to finalize the loan within the next two months.
After facing criticism from US short seller Hindenburg Research last year, the conglomerate is rebuilding trust with investors. In March, the group’s first public bond sale since the criticism saw strong demand, indicating growing confidence in Adani’s businesses.
