According to an exchange filing, the Adani Group has secured an investment of Rs 15,446 Crore ($1.87 billion) from US-based firm GQG Partners. The infusion came through a series of secondary block trade transactions in Adani Ports and Special Economic Zone Limited, Adani Green Energy Limited, Adani Transmission Limited and Adani Enterprises Limited.
What this means for Adani's future
The investment has made GQG a key investor in the development and growth of critical Indian infrastructure. Jefferies India Private Limited acted as a Sole Broker for the transaction. Rajiv Jain, Chairman and CIO of GQG Partners, said: “I am excited to have initiated positions in the Adani companies. Adani companies own and operate some of the largest and most important infrastructure assets throughout India and around the world. Gautam Adani is widely regarded as among the best entrepreneurs of his generation."
Celebrating investor cofidence
Jugeshinder (Robbie) Singh, Group CFO of Adani Group, said: “We are delighted to complete this landmark transaction with GQG. We value GQG’s role as a strategic investor in our infrastructure and utility portfolio of sustainable energy, logistics and Energy Transition. This transaction marks the continued confidence of global investors in the governance, management practices and the growth of Adani Portfolio of companies.”
Last year at the United Nations Climate Change Conference, the Indian government announced that by 2030 India's non-fossil fuel capacity would be 500 GW. Adani Group plans to supply the country with 45 GW (9% of India's renewable energy) by 2030.
Adani Electricity Mumbai Limited, the distribution arm of Adani Transmission Limited (committed to Net Zero by 2050) has legally covenanted targets to increase the renewable energy penetration from 3% in FY21 to 60% by FY27. APSEZ has committed to being carbon neutral by 2025 and to be a leader in the development of sustainable transport utility. AEL, through its wholly owned subsidiary Adani New Industries Limited has committed to build, over the next 9 years, a new green hydrogen vertical focused on decarbonization of industrial energy and mobility.
