Asia's richest man Gautam Adani will raise funds to repay banks, know the details

Asia's richest man Gautam Adani will raise funds to repay banks, know the details

Gautam Adani's Adani Group, included in the list of Asia's richest person and the world's richest person, is preparing to reduce its debts in banks. The company is planning to raise a fund of five billion dollars to reduce its debt.

According to the report published in Bloomberg, Abu Dhabi Investment Authority, and Mubadala Investment Co. to reduce the rising debt of Adani Group banks. Have interacted with the officials of firms Apart from this, the company has held talks with the Canada Pension Plan Investment Board and Qatar Investment Authority. By talking to all these people, the company has taken information about the funds and Sovereign Wealth Fund ADQ.

Adani Group will soon raise funds
According to media reports, Adani Enterprises Ltd., the company's flagship company of Adani Group, has planned to raise funds from 1.8 to 2.4 billion dollars by the next year. Apart from this, the company has also decided to hold a meeting on this matter on 25 November 2022. For this, Adani Enterprises Ltd. can also issue shares worth 5 to 10 billion dollars by the next year. According to media reports, this matter is currently only being discussed in Adani Group, you have not yet taken any final decision on it. Along with this, Adani Group, Mubadala, ADIA, and ADQ have not commented on this matter in any way at the moment.

Ambani also raised funds in this way
Earlier, Mukesh Ambani, a veteran businessman of India included in the list of the world's richest people, also raised more than $ 27 billion in the year 2020 to settle the debts of the bank on Reliance Industries. According to media reports, banks have asked Adani Group to reduce its loans. In the month of September, research firm CreditSights said in its report that Adani's companies have more debt than the prescribed standard, but the company rejected it and said that this debt is within the standards set by the government. In such a situation, now the company can raise up to $ 10 billion in the coming days by selling its shares, etc.

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