The Indian billionaire industry leader and owner of the Adani group, the Ahmedabad multinational conglomerate engaged in ports growth and operations in India is Gautam Shantilal Adani (born June 24, 1962, p. 41). Adani is chairman of the Adani Foundation, headed mainly by his mother, Priti Adani.
He founded The Adani Group in 1988 and diversified his business into, among other things, capital, logistics, power, agriculture, defense, and airspace.
New Delhi: The renewable energy firm Adani Green, a trillionaire Gautam Adani, has increased investor interest worldwide in USD 362.5 million (approximately Rs 2.570 crore)bonds issues, said the company on Monday.
This was the first agreement that India had ever negotiated to use a depreciating funding mechanism to allow foreign investors to purchase investment bonds from the renewable energy sector in India.
A statement added that the bond had a door-to-door maturity of 20 years and a weighted average life of 13.47. The aggressive moves in the dollar bond market by the Adani Group led to an increase in foreign investors ‘ interest in the Indian Renewable Energy Market.
The US accounts collected 24% of the bonds, together with 60% for Asia and 16% for EMEA.
The activities of the Adani Group in the dollar bond market show one of the Indian companies that succeeded in taping offshore bonds in 2019, the Group said. The bond structure of Adani Green fulfills stringent investment requirements.
The bonds were issued by Adani Green Energy’s three wholly-owned solar energy subsidiaries, Adani Renewable Energy, Kodangal Solar Parks and Wardha Solar (Maharashtra). They have a total solar capacity of 570 MW and longterm energy purchases agreements with companies, such as the Indian state-backed Solar Energy Corp, for a weighted average remaining term of approximately 24 years, the declaration says.
Source: PTI
