Business Standard

Gautam Adani's $5 bn bet aimed at silencing debt-obsessed critics

Gautam Adani is seeking legitimacy in the face of questions about his group's breakneck expansion from a traditional port operator to a sprawling empire

Photo: Bloomberg
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Photo: Bloomberg

Chris Kay and P R Sanjai | Bloomberg
Gautam Adani’s plan to raise at least $5 billion in equity aims to shut down two of the most frequent criticisms leveled against the Indian tycoon’s swelling empire: high debt ratios and a limited investor base.
 
After four years of eyebrow-raising gains -- some Adani Group shares surged more than 2,000% -- Asia’s richest person is embarking on a fundraising campaign that will likely include a local share sale as well as buy-in from large investment funds in the Middle East and Canada. An equity injection of this size is expected to help the conglomerate deleverage and Bloomberg Intelligence sees

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