Adani Energy Solutions (AESL), previously known as Adani Transmission, is in the process of raising USD 360 million (approximately Rs 3,000 crore) through the issuance of bonds on a private placement basis. According to Rohit Soni, the Chief Financial Officer of Adani Energy Solutions, the funds will be raised for transmission assets commissioned in the last three to four years.
Soni also mentioned that the company is currently working on securing the USD 360 million through bonds early next year, with the paperwork for the bond issue already underway. In addition, the company is planning to raise another USD 1 billion. Soni 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 year end that still holds good from our perspective.”
In May of this year, the board approved the raising of funds through the issuance of equities worth up to Rs 8,500 crore way of qualified institutional placement or other permissible modes. AESL, as part of the Adani portfolio, is a multi-dimensional organization with a presence in various aspects of the energy domain, including power transmission, distribution, smart metering, and cooling solutions.
AESL is the largest private transmission company in the country, operating across 16 states in India with 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.