Asia's second richest businessman Gautam Adani has started working on a plan to raise money from common people. According to sources, Gautam Adani plans to raise Rs 40,000 crore from retail investors in the next 3 to 4 years.
Recently, Adani Enterprises on Wednesday launched a public issue of secured non-convertible debentures (NCDs) worth Rs 400 crore. According to the report, debt instruments with tenors of two to five years will return 9.25-9.90 per cent per annum. The special thing is that this issue was fully subscribed on the very first day.
Domestic banks invested Rs 88,100 crore
Informing a media report, a person in the know said that the group is now planning to launch a similar public issue i.e. NCD for other companies as well. With this, the group will not have to depend on lenders who provide loans in rupees, sources said in a media report.
It includes both public sector and private sector banks. According to the report, domestic lenders, including banks and financial institutions, have exposure of Rs 88,100 crore to some Adani group companies through long-term and working capital loans till the year ending March 2024.
Debt at Adani Enterprises increased
Adani Enterprises' debt has increased in FY 2023-24. According to the report, the company's long-term debt has increased to Rs 43,718 crore in FY2024. While in FY 2023 it was Rs 32,590 crore. This means that the company has registered a growth of 34.14 percent year-on-year. While the short-term debt of the institution increased to Rs 4,897 crore in FY2024, which was Rs 4,244 crore in FY23.
29,511 crore in the company's net external debt in FY2024
According to the report, Adani Enterprises' cash has increased to Rs 8,523 crore from last year's Rs 5,539 crore. The company's net external debt stood at Rs 29,511 crore in FY24, up from Rs 22,237 crore in FY23. That means it has also increased by 32.71 percent.
Liquidity position of the company is strong
A media report quoted sources as saying that raising funds from retail investors is good from a diversification point of view and will increase the group's overall goodwill and public awareness. This could also impact the group's equity base by attracting more retail investors.
The Adani Group has tapped the foreign debt market to raise capital and borrow rupees from Indian banks. The special thing is that the group has very strong liquidity. The Group has cash reserves to repay loans for more than 30 months.
. Source
