Now, Asia’s second richest businessman Gautam Adani has started working on planning to raise money from common people. According to media reports, Gautam Adani is planning to raise Rs 40,000 crore from retail investors in the next 3-4 years. Recently, Adani Enterprises on Wednesday launched its public issue of non-convertible secured debentures (NCDs) worth Rs 400 crore. According to the report, the debt instruments with a duration of two to five years will give annual returns of 9.25 to 9.90 per cent. The special thing is that this number was fully subscribed from the first day.
Domestic banks have invested Rs 88,100 crore
Giving information in the media report, one of the people in the know said that the group is now planning to float a similar public issue i.e. ENT for other companies as well. The sources told the media that with this the group will not have to depend on those lenders who provide loans in rupees. In which both government and private sector banks are included. According to the report, domestic lenders including banks and financial institutions have an exposure of Rs 88,100 crore to various Adani group companies through working capital and long-term loans till the year ending March 2024.
Debt rose at Adani Enterprises
Adani Enterprises’ debt has increased in the financial year 2023-24. According to the report, the company’s long-term debt increased to Rs 43,718 crore in FY2024. While in FY2023 it was Rs 32,590 crore. This means that the company has grown by 34.14 percent year-on-year. While the short-term debt of the organization increased to Rs 4,897 crore in FY2024 which was Rs 4,244 crore in FY2023. According to the report, Adani Enterprises’ cash increased to Rs 8,523 crore as compared to Rs 5,539 crore last year. The company’s net external debt was estimated at Rs 29,511 crore in FY24, which was Rs 22,237 crore in FY23. This means it has also increased by 32.71 per cent.
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The company’s liquidity positions are solid.
The media report quoted sources as saying that raising funds from retail investors is good from a diversification point of view and will increase the overall goodwill and public awareness of the group. This may also impact the shareholder base of the group by attracting more retail investors. The Adani Group has taken the help of the foreign debt market to raise capital and obtain rupee loans from Indian banks. What is special is that the group has very strong liquidity. The group has cash reserves to make loan repayments for more than 30 months.
