Adani Green Energy Ltd (AGEL), Adani Group’s renewable arm and India’s largest renewable energy company, has deferred its $1.2 billion IG rated offering to after the US presidential elections on account of weak market conditions.
The Hybrid RG comprises 1,840 MW operational wind solar hybrid assets, with an IG rating from Fitch and Moody’s ratings.
This is one of the strongest credits from the Indian renewables market.
According to sources, the deal would now be executed after the US elections next month and is expected to be lapped up by investors on account of its attractive credit highlights.
Proceeds from the proposed bond will be used to repay foreign-currency loans.
The launch received positive response but the company decided to defer to better market conditions to achieve tighter pricing.
Some of the most high-quality investors were part of the book, including large global insurance companies, asset managers and long only investors.
The company is considering two windows immediately after the US elections or second week of January 2025 after the New Year break.
Meanwhile, Adani Green Energy Ltd reported robust results for the April-June quarter (Q1) of the current fiscal, clocking a 23 per cent industry-leading EBITDA growth at Rs 2,374 crore, as cash profit surged 32 per cent (year-on-year) to Rs 1,390 crore.
The total revenue for India’s largest and fastest-growing pure-play renewable energy company grew an impressive 24 per cent to Rs 2,528 crore in the quarter.
Cong gears up for campaign in Wayanad as workers put billboards of Priyanka Gandhi
Hours after the Election Commission announced that the Wayanad Lok Sabha by-election would be held on November 13, with the Congress already declaring its General Secretary Priyanka Gandhi as their candidate, party workers hit the campaign trail.
Patanjali to set up palm processing unit in Tripura, NE Head meets CM
A press statement from Patanjali Foods Limited said that the recent MoU of Tripura State Horticulture directorate with Yoga Guru Baba Ram Deb's Patanjali Foods Limited marks a significant milestone in increasing palm oil production in Tripura.
Samsung workers call off 37-day strike at Sriperumbudur factory after reconciliation talks
The workers of Samsung India, who have been agitating against the management at the Sriperumbudur plant in Tamil Nadu, on Tuesday called off the 37-day strike that commenced on September 9, the state Labour Department announced.
Avoiding 'contentious issues' Omar Abdullah’s only way to develop J&K
As he settles down to decide what kind of dress would suit him on Wednesday’s swearing-in ceremony, the 54-year-old Omar Abdullah is upbeat about the mandate the people gave him to become the Chief Minister of J&K for the second time, but there are some pitfalls awaiting him.
Passenger's hanging body recovered from Sealdah Express in Sabroom
The Government Railway Police recovered a hanging body from the Kolkata-Sabroom Sealdah Express after the train reached its destination Sabroom located in Tripura’s South District on Tuesday.
Filled me with pride: Union Minister Hardeep Puri reacts on India's response to Canada
Union Minister Hardeep Singh Puri on Tuesday heaped praise on the Ministry of External Affairs (MEA) for giving "exemplary" responses to Canada for consciously providing space to anti-India elements, violent extremists and terrorists to harass, threaten and intimidate Indian diplomats and community leaders in the country.
5th National Water Awards: Dhalai bags Best District Award in NE
The Union Ministry of Jal Shakti has announced Dhalai District of Tripura as Best District while Best Panchayat named Khliehrangnah, West Jaintia Hills of Meghalaya for the 5th National Water Awards 2023 in the North East Region.
Yaba Tablet worth Rs 91 lakh seized in Tripura
According to BSF, on the night intervening 14th and 15th October, on specific intelligence input deployed BSF troops of BOP Kamalasagar under Sepahijala District were alerted.