Adani Infra weighs $1 bn dollar bonds to execute group projects

A private company owned by billionaire Gautam Adani and his family has been tasked with managing infrastructure projects across the Adani Group's listed firms, as the conglomerate moves to bring project execution in-house and retain margins that would otherwise have gone to external contractors.

- Nehal Chaliawala

Funds raised will be forwarded as promoter loans.

(AF)

Adani Infra (India) Ltd, the private company, is also looking to leverage its order book of more than ₹50,000 crore to raise significant funds, an executive directly aware of the plans said on condition of anonymity as the discussions are private.

"They are looking to leverage this order book and raise more than $1 billion through private placement of (dollar-denominated) bonds," the executive said.

The funds raised will be forwarded as promoter loans or equity contributions to Adani Group companies for their capex requirements. With Adani Infra handling all of the group's project management consultant (PMC) work, the group is creating a single execution point with scale comparable to large standalone infrastructure contractors.

Adani Infra's order book is comparable to that of Kalpataru Projects International Ltd (₹64,682 crore) and Afcons Infrastructure Ltd (₹32,681 crore).