Adani Energy Solutions (AESL), formerly known as Adani Transmission, has announced plans to raise USD 360 million (approximately Rs 3,000 crore) through the issuance of bonds on a private placement basis. Chief Financial Officer Rohit Soni revealed the company’s intentions during an investor call, stating, “we are looking for a private placement of USD 360 million of transmission assets which were commissioned in the last three to four years.” Soni also mentioned that the company is still in the process of working out the details for the bond issuance, aiming for early next year.
In addition, Soni informed analysts that paperwork for the bond issue is currently underway and reiterated the company’s plan to raise another USD 1 billion. He stated, “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.”
The board of AESL had previously approved the raising of funds through the issuance of equities worth up to Rs 8,500 crore via qualified institutional placement or other permissible modes in May of this year.
Adani Energy Solutions, a part of the Adani portfolio, is a versatile organization with a stake in various aspects of the energy industry, including power transmission, distribution, smart metering, and cooling solutions. AESL is the largest private transmission company in India, with a presence in 16 states and a cumulative transmission network of 19,800 circuit kilometers and 53,000 MVA transformation capacity. The company serves over 12 million consumers in Mumbai and the industrial hub of Mundra SEZ.
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