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.
73rd B.N. Mullik Memorial All India Police Football Championship begins, CM lauds Police's role
Tripura Chief Minister Prof. Dr. Manik Saha today lauded the role of Tripura Police in carrying out various social activities, apart from significantly improving the state's law and order situation.
Tripura to create, fill up 333 posts in various departments
The Tripura Government has announced plans to create and fill up 333 posts across multiple state departments. The decision was taken during a recent cabinet meeting and was revealed by Cabinet Spokesperson Sushanta Chowdhury at a press conference on Monday.
Explosions near Russian Consulate in France have signs of terrorist attack: Moscow
The Russian Foreign Ministry on Monday stated that explosions on the territory of the Russian Consulate General in France's Marseilles resemble a terrorist attack.
Adani Power gets Letter of Intent to acquire Vidarbha Industries Power
Adani Power Limited (APL) on Monday said it has received a Letter of Intent (LOI) to acquire Vidarbha Industries Power Limited.
Air Force Base in Bangladesh attacked, several injured
In a major incident of lawlessness that is currently prevailing in Bangladesh under the interim government led by Chief Advisor Mohammad Yunus, several miscreants launched an ambush attack on an Air Force Base in Cox's Bazar on the southeast coast of the country.
Indian tech industry to hit $300 bn revenue in FY26, workforce to reach 5.8 mn in FY25
The Indian tech industry is projected to reach $300 billion revenue in FY26, a Nasscom report said on Monday, adding that in the current fiscal (estimated), the industry will add at least 126,000 net new employees, taking the total workforce to 5.8 million.
Telangana tunnel collapse: L&T teams with advanced equipment join rescue operation
Two teams of construction major Larsen & Toubro with advanced equipment on Monday joined the operation to rescue eight trapped workers from an under-construction tunnel, a portion of which collapsed on February 22 in Telangana’s Nagarkurnool district.
Right time to invest in Madhya Pradesh: PM Modi at Global Investors Summit
Prime Minister Narendra Modi on Monday inaugurated the Global Investors Summit here highlighting investment opportunities in Madhya Pradesh and urging investors to tap available potential in the state.