Gautama AdaniImage credit source: PTI
Gautam Adani is now continuously working to expand his business. For this, he is continuously raising funds. Recently, Gautam Adani has secured funding from foreign lenders to boost his business. Five foreign lenders have expressed their confidence in Gautam Adani. These five lenders have donated Rs 3,131 crore to Gautam Adani. With this money, Adani will expand his business in 13 states of the country. Let us also tell you what business Gautam Adani is planning to take up. Which foreign lenders have expressed their confidence in Gautam Adani?
Will further expand this business.
Gautam Adani has raised funds to expand the business of his Adani Total Gas Limited Company. According to the information, ATGL has raised funds worth $375 million i.e. Rs 3,131 crore from global lenders to expand its business. The company said in a statement on Friday that the first fundraise of $375 million executed with international lenders includes an initial commitment of $315 million with a credit facility to increase commitments.
Received financing from these five lenders.
Five international lenders participated in the primary fundraising. These include BNP Paribas, DBS Bank, Mizuho Bank, MUFG Bank and Sumitomo Mitsui Banking Corporation. According to the information, the confidence of foreign lenders in Gautam Adani and his business has increased significantly. This is the reason why Gautam Adani is seeking foreign funding to continuously expand his business. They are also continuously receiving funding. On the other hand, thanks to the funding, the valuation of the company is also increasing.
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It will expand the business in 13 states.
The joint venture between Adani Group and French energy major TotalEnergies said this facility will accelerate the capital expenditure programme. This will help ATGL rapidly expand its City Gas Distribution (CGD) network across its 34 Authorised Geographical Areas (GAs) in 13 states. Parag Parikh, Chief Financial Officer, ATGL, said this financial structure will drive ATGL’s continued growth and will be a stepping stone to future funding based on its capital management plan that will create long-term value for all our stakeholders.
Adani Total Gas Shares
However, on Friday, a 1.60 percent rise was seen in the company’s shares and the company’s stock closed at Rs 788.60. However, the company’s stock also touched Rs 795.70 during the trading session. However, this year the company’s stock has seen a fall of 21 percent. The company’s stock has increased by 23.49 percent in a year. At present, the company’s market capitalization is Rs 86,731.02 crore.
