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Adani Green Energy: The Gautam Adani family is working on a new plan for business expansion in the new year. According to a Bloomberg report, the promoters of the Adani group plan to invest $1 billion in the renewable energy unit. Through this, the focus is on expanding the business and meeting the refinancing needs of Adani Green Energy. However, an Adani Group representative did not immediately comment on the investment.
The company is going to raise funds
Recently, Adani Green Energy has informed about its plans to raise funds. The company has informed the BSE that a meeting of the board of directors of Adani Green has been fixed on December 26. Fund raising will be considered and sanctioned among other things in this meeting. The company aims to have 45 GW of green energy capacity by 2030. Adani Green also has $1.2 billion of bonds maturing next year. Even before this, the company has started preparing a plan for re-financing. The company also took loans from eight banks earlier this month.
Shares of Adani Green
On Thursday, the fourth trading day of the week, shares of Adani Green Energy surged 4.69% to Rs. closed at 1519.85. The stock price touched Rs 1549.40 during trading. Talking about the market cap, it is Rs. 2,40,749.18 crores.
Let us tell you that in the month of January, the American short seller firm Hindenburg Research made many serious allegations against the Adani Group. For months after this, the cloud of crisis hung over the group companies. Adani Group companies lost more than $150 billion at one point due to this crisis. Adani Group made many efforts on various fronts to come out of this environment.