Gautam Adani is now working on continuously expanding his business. For this, he is continuously raising funds. Recently, Gautam Adani has received funding from foreign lenders to expand his business. 5 foreign lenders have expressed confidence in Gautam Adani. These five lenders have given Rs 3131 crore to Gautam Adani. With this money, Adani will expand his business in 13 states of the country. Let us also tell you which business Gautam Adani is planning to expand. And which foreign lenders have expressed confidence in Gautam Adani.
Gautam Adani has raised funds to expand the business of his Adani Total Gas Limited company. According to the information, ATGL has raised funds of $375 million i.e. Rs 3131 crore from global lenders to expand its business. The company said in a statement on Friday that the first fund raising of $375 million executed with international lenders includes an initial commitment of $315 million with a loan facility to increase commitments.
Five international lenders participated in the primary fund raising. These include BNP Paribas, DBS Bank, Mizuho Bank, MUFG Bank and Sumitomo Mitsui Banking Corporation. According to the information, the confidence of foreign lenders on Gautam Adani and his business has increased significantly. This is the reason why Gautam Adani is looking towards foreign funding to continuously expand his business. He is also getting funding continuously. On the other hand, due to the funding, the valuation of the company is also increasing.
The joint venture of Adani Group and French energy company TotalEnergies said that this facility will accelerate the capital expenditure program. This will help ATGL to rapidly expand its city gas distribution (CGD) network across its 34 authorized geographical areas (GAs) in 13 states. ATGL Chief Finance Officer Parag Parikh said that this financing structure will promote ATGL's continued growth and will be a step towards future financing based on its capital management plan which will create long-term value for all our stakeholders.
However, on Friday, the company's stock saw a rise of 1.60 percent and the company's stock closed at Rs 788.60. However, the company's stock also reached Rs 795.70 during the trading session. However, in the current year, the company's stock has seen a decline of 21 percent. At the same time, the company's stock has seen an increase of 23.49 percent in one year. At present, the company's market cap has reached Rs 86,731.02 crore.
