Gautam Adani is in early talks with investors including Singapore's sovereign wealth fund GIC, Singapore state investor Temasek and other private equity fund managers to raise at least $10 billion for expanding ports, cement, green energy and fast-moving consumer goods businesses.
Mint, citing two people with direct knowledge of the matter, added that the funds are expected to be raised in multiple tranches, including through the sale of stakes in Adani Group firms.
Last week, Gautam Adani announced that the group aims to invest Rs 65,000 crore in Rajasthan over the course of 5 to 7 years. This will help them create over 40,000 direct and indirect jobs.
Last year, Adani Group pledged to invest $70 billion in green power, a move that was criticised by some as so much of the group’s revenue still comes from fossil fuels.
Adani Group is also building a 10 GW silicon-based photovoltaic value chain that will be backwards-integrated from raw silicon to solar panels.
