Adani Enterprises To Raise Funds Through Global Bonds
by Charmi Gutka
Adani Enterprises is planning to raise funds by issuing $1.5 Bn global bond to fund its Australian coal, rail and port projects.
In August 2010, Adani Group had signalled its grand plan for Australia with the $3 bn purchase of Linc Energy’s coal tenements in the Galilee Basin, Australia’s single largest tenement, with a resource of 10.4 bn tonnes of coal.
The company plans to invest a further $7 bn in Australia over the next few years in the coal mine, the Abbot Point port project, and a 450 km track system that will connect the two.
UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.