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A unit of <keyword id="6437412" type="General" weightage="20" keywordseo="Qatar-Investment-Authority" source="Orion">Qatar Investment Authority</keyword>, <keyword id="119583" type="General" weightage="20" keywordseo="SBI-Mutual-Fund" source="Orion">SBI Mutual Fund</keyword>, and foreign investment funds <keyword id="6354527" type="General" weightage="20" keywordseo="Nomura" source="Orion">Nomura</keyword> and <keyword id="44473" type="General" weightage="20" keywordseo="Citigroup" source="Orion">Citigroup</keyword> were the biggest buyers of shares in <keyword id="19955648" type="General" weightage="100" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="267" meta.entityid="Adani Group">Adani group</keyword>'s <keyword id="22661797" type="General" weightage="20" keywordseo="power-transmission-unit" source="Orion">power transmission unit</keyword>'s USD <keyword id="22661798" type="General" weightage="20" keywordseo="1-billion-QIP" source="Orion">1 billion QIP</keyword>, according to a stock exchange filing by the company. The Rs 8,373.10 crore (USD 1 billion) qualified institutional placement (QIP) of <keyword id="19964750" type="General" weightage="20" keywordseo="Adani-Energy-Solutions" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Energy Solutions" meta.hostid="267" meta.entityid="Adani Energy Solutions">Adani Energy Solutions</keyword> Ltd (AESL), which closed last week, saw over 120 investors seek shares in the firm that is into power transmission, distribution and smart metering business. Billionaire <keyword id="22623487" type="General" weightage="20" keywordseo="Stanley-Druckenmiller" source="keywords">Stanley Druckenmiller</keyword>'s family office-led investment firms were among the companies that sought shares of AESL in the QIP. AESL in the filing said its board has approved allocation of over 8.57 crore shares to eligible qualified institutional buyers at the issue price of Rs 976 per share, reflecting a discount of Rs 51.11 (4.98 per cent) to the floor price of Rs 1,027. Giving details of allottees who got more than 5 per cent of shares, it said INQ Holdings LLC, a wholly-owned subsidiary of QIA, cornered 15 per cent of the shares sold. Two Mauritius funds of Citigroup bought 8.88 per cent of the shares sold while four SBI funds - SBI Infrastructure Fund, SBI Large &amp; Midcap Fund, SBI Long term Advantage Fund Series IV and SBI Magnum Children's Benefit Fund - together took home 7.93 per cent of the shares. Nomura Singapore Ltd ODI cornered 7.5 per cent of the shares, the filing showed. INQ had in August last year acquired nearly 2.7 per cent in Adani Green Energy Ltd - the renewable energy firm of the conglomerate run by billionaire Gautam Adani. In 2020, it had acquired a stake in Adani Electricity Mumbai Ltd, a subsidiary of AESL. The AESL QIP last week was oversubscribed six times and fetched demand of over Rs 50,000 crore against an issue size of USD 1 billion. <keyword id="22636516" type="General" weightage="20" keywordseo="Duquesne-Family-Office" source="keywords" meta.keywordsubtype="org" meta.entityname="Duquesne Family Office" meta.hostid="267" meta.entityid="Duquesne Family Office">Duquesne Family Office</keyword> and two other US-based long-only funds - Driehaus Capital Management and Jennison Associates - bought shares but AESL did not disclose the exact number of shares they bought since these were less than 5 per cent of the issue size, sources said. The QIP issue marked the debut of highly prestigious long-only investors Duquesne Family Office, Driehaus Capital Management and Jennison Associates which are known for their strong performance. These investors are known for investing only in companies with high governance and are known for staying invested for decades. The QIP was the first public equity raise by the conglomerate since a damning Hindenburg report last year wiped away billions in shareholder value. The demand generated made the AESL QIP the largest in the energy space. Duquesne was founded by billionaire Stanley Druckenmiller, who along with George Soros in 1992 broke the Bank of England by shorting the British pound, leading to its crash and earnings over a billion dollars. Adani Group has a history of introducing several long-only investors in the market. In the past years, it has brought large investors including GQG Partners and International Holding Company (IHC) besides QIA. Other major global names that participated in the QIP include Blackrock, Jupiter Asset Management, and Eastspring. Domestic mutual funds that have participated included HDFC Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, LIC, WhiteOak, 360One among others. Insurance companies including SBI Insurance, SBI Pension and ASK Asset Management have also participated, according to sources. QIP is an instrument used by listed companies to raise funds from large institutions. The fundraise is the first after Adani group's flagship firm scrapped a Rs 20,000 crore issue in February last year, following the Hindenburg report alleging accounting fraud and stock manipulation. Though the group vehemently and repeatedly denied all allegations, listed companies of the conglomerate at one point saw over USD 150 billion of their market value being wiped out. While the group has largely recovered, a successful QIP is being seen as a powerful vote of investor confidence in the tycoon. Separately, Adani Enterprises Ltd, the flagship firm of the group, is looking to revive its first-ever public sale of bonds. It plans to raise as much as Rs 600 crore. The company has hired Trust Investment Advisors, AK Capital Services and Nuvama Wealth Management as lead managers for the issuances. The group had tapped the dollar bond market in March this year - the first time since the Hindenburg report - when its solar energy unit Adani Green Energy Ltd and associated firms got bids of about USD 2.9 billion.

Qatar Investment Authority unit, SBI funds, Citigroup biggest buyers in Adani Energy's USD 1 billion QIP

<keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani group</keyword> plans to invest about Rs 1.3 lakh crore across its portfolio companies in this financial year, as it doubles down on its $100 billion investment guidance over the next 7-10 years to grow businesses, the group's CFO said. The investment will range from ports to energy, airports, commodities, cement and media. 70% of this will met through internal cash generation and the remaining will be taken care through debt, group CFO Jugeshinder 'Robbie' Singh noted. The group will look to refinance $3-4 billion of debt maturing in the year and raise an additional $1 billion in project financing, he said, adding the annual $2-2.5 billion of equity infusion by bringing in new investors is also likely to continue. "This year will be more about asset completion," the CFO continued. <keyword id="34553" type="General" weightage="20" keywordseo="Renewable-energy" source="Orion">Renewable energy</keyword> firm <keyword id="19898586" type="General" weightage="20" keywordseo="Adani" source="keywords">Adani</keyword> Green will complete 6-7 GW project, while the solar wafer manufacturing unit will also attain scale. Also, the new airport at Mumbai will be completed. The projected capital expenditure or capex for 2024-25 (April 2024 to March 2025) fiscal is 40% higher than what the portfolio is estimated to have incurred in FY24. The group had previously guided a $100 billion capex over the next 7-10 years. Most of this investment is going to go into the group's fast growing businesses -- renewable energy, <keyword id="8411893" type="General" weightage="20" keywordseo="green-hydrogen" source="Orion">green hydrogen</keyword> and airports and infrastructure. As much as 70% of the planned capex will go into its green portfolio - primarily <keyword id="19904987" type="General" weightage="20" keywordseo="renewable-power" source="keywords">renewable power</keyword>, green hydrogen, green evacuation. Of the remaining 30%, the majority will be spent towards airports and ports businesses. Adani group companies posted a record 45% rise in pre-tax profit (Ebitda) to Rs 82,917 crore (about $10 billion) in FY24, Singh said. Emerging from a damning report of a US short seller <keyword id="191733" type="General" weightage="20" keywordseo="Hindenburg" source="Orion">Hindenburg</keyword>, which hit the market value of its listed companies, Adani group in 2023-24 focused on containing debt, reducing founder share pledge and consolidating the business in core competencies. The five-year CAGR (compound annual growth rate) for profit growth was 54% A school drop-out, group chairman <keyword id="19929098" type="General" weightage="100" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> started out as a commodities trader and rose to be counted amongst world's richest with an empire spanning across ports, power generation, airports, mining, renewables, gas, data centres, media and cement. Today, Adani group is the world's second largest solar power company, it is the largest airport operator with 25% of passenger traffic and 40% of air cargo, the largest ports and logistics company with 30% market share, largest integrated energy player, and the country's second largest cement manufacturer. With strong emphasis on <keyword id="19895435" type="General" weightage="20" keywordseo="green-energy" source="keywords">green energy</keyword> transition, it will be allocating more than 70% of this $100 billion to its green businesses including renewable power, green hydrogen, and green evacuation transmission lines. The conglomerate is building the world's largest renewable park at Khavda, Gujarat, spanning over 530 square kilometers, which is about five times the size of the city of Paris. A large portion of total investments is earmarked for expansion and development of its fast-growing airports business and ports business. With a portfolio boasting eight airports including the upcoming <keyword id="57321" type="General" weightage="20" keywordseo="navi-mumbai" source="Orion">Navi Mumbai</keyword> airport and 14 domestic ports, Adani wants to further solidify its presence in these sectors.

Adani to invest Rs 1.3 lakh crore in FY25 across its companies

<keyword id="2687606" type="General" weightage="20" keywordseo="Adani-Transmission" source="Orion">Adani Transmission</keyword> expects strong growth opportunities through its acquisitions and improvement in the last mile connectivity. Adani Transmission is the transmission and distribution arm of the Adani Group. "Acquisition has been our very formidable growth paradigm in the transmission side and, we of course acquired the distribution business in Mumbai... (and)... the distribution business in Mundra. So, we will continue to look at various holdings of the private sector in the distribution as possible growth opportunities," Anil Sardana, the Chief Executive Officer of the company said. "We all know that in the power sector, as a country, we are doing well with the generation side... the transmission side. What we have to actually reform is the last mile. And that's where the company's presence is going to really help multiply and grow in the days ahead." The company, which generates more than two-third of its revenue from the distribution business, recognizes distribution as one of its key and core strengths. In the ninth-month ending 2021, the company quadrupled its transmission network to 3,080 circuit kilometres from 749 circuit kilometres in the same period last year. It commissioned 890 circuit kilometres at Ghatampur Transmission in Uttar Pradesh, 481 circuit kilometres at Bikaner Khetri Transmission and 292 circuit kilometres at Fatehgarh- Bhadla Transmission in Rajasthan. Apart from the key transmission assets, the company will build, own, operate and maintain the transmission project in the state of Madhya Pradesh for a period of 35 years, the company said in a statement. "One of ATL's key strengths lies in providing seamless electricity to some of the most populous regions of the nation, traversing through complex geographies. Across its network, ATL has ensured a robust transmission system availability at 99.62 per cent." Though the transmission and distribution business has a strong potential, the biggest roadblock in India's mission to provide 'Power for All' is the transmission and distribution losses. To put things in perspective, India's energy losses in transformation, transmission and distribution during the year 2019-20 was at 20.46 per cent, it said. SEE ALSO: <a href="https://www.businessinsider.in/international/news/college-dropout-gautam-adani-who-survived-a-terrorist-attack-and-a-kidnapping-is-now-asias-richest-person-with-a-88-5-billion-fortune/articleshow/89426208.cms">College dropout Gautam Adani, who survived a terrorist attack and a kidnapping, is now Asia's richest person with a $88.5 billion fortune</a> <a href="https://www.businessinsider.in/stock-market/news/power-banking-and-it-stocks-see-sharp-sell-off-on-fii-pull-out-and-as-investors-carve-out-money-for-lic-ipo/articleshow/89427072.cms">Power, banking and IT stocks see sharp sell-off on FII pull out and as investors carve out money for LIC IPO</a>

Adani Transmission is looking to boost its growth by improving last mile connectivity

Adani Transmission Ltd (<keyword id="447291" type="General" weightage="80" keywordseo="atl" source="Orion">ATL</keyword>), India's largest private power distribution company and the transmission arm of the diversified <keyword id="6367820" type="General" weightage="50" keywordseo="adani-group" source="Orion">Adani Group</keyword>, has submitted its Green House Gases (GHG) emission reduction plans, focussing on Science Based Targets initiative (SBTi), an international drive for containing global warming. ATL has submitted its detailed plan and targets for GHG emission reduction to SBTi within one year towards its commitment to contribute to contain global warming. As a part of its continued focus on sustainable growth and its net zero journey, ATL committed for the SBTi in October 2021. ATL will act in alignment with the much-needed climate action and devise a strategy to restrict global warming to 1.5 degree Celsius. To meet these targets associated with the SBTi commitment, ATL has rolled out definite strategies. In a first-of-its-kind initiative in the country, ATL's subsidiary AEML (Adani Electricity Mumbai Ltd) has introduced green tariffs, which enables AEML consumers to opt for green energy and receive a Green Power Certificate every month. This initiative is popular with consumers who wish to reduce their carbon footprint. "We take seriously all initiatives focused on contributing to India's climate commitment through resolute climate action," said <keyword id="175186" type="General" weightage="50" keywordseo="anil-sardana" source="Orion">Anil Sardana</keyword>, MD &amp; CEO, Adani Transmission Ltd. "Submitting targets for the SBTi reiterates our commitment to devising sustainable ways of doing business. It also reinforces India's efforts to reduce climate risk through individual and collective action. A culmination of several smaller actions such as energy efficiency initiatives at sub-stations, de-linking of substations from the grid for auxiliary power while connecting them with solar energy, and introduction of efficient transmission lines aimed at reducing losses, combined with wider actions such as introduction of green tariff at AEML, will significantly contribute towards achieving positive climate action." Signing up for the SBTi is an important step in the context of India's commitments to the Paris Climate Agreement. ATL became a signatory of UN Energy Compact at COP26 held in Glasgow in 2021. Through SBTi, companies are setting science-based emissions reduction targets - across their entire value chain - that are consistent with keeping global warming at 1.5 degree Celsius above pre-industrial levels. SBTi committed companies get 24 months to submit their targets. ATL, after committing to SBTi in Oct 2021, is one of the few companies to submit the emission reduction targets within one year. SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (<keyword id="1044129" type="General" weightage="50" keywordseo="wri" source="Orion">WRI</keyword>) and the <keyword id="62483" type="General" weightage="50" keywordseo="world-wide-fund-for-nature" source="Orion">World Wide Fund for Nature</keyword> (<keyword id="18630" type="General" weightage="50" keywordseo="wwf" source="Orion">WWF</keyword>). It defines and promotes best practices in science-based target setting and independently assesses companies' targets. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rec-gets-maharatna-company-status/articleshow/94368132.cms">REC gets 'Maharatna' company status</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rupee-slumps-51-paise-to-all-time-low-of-80-47-against-us-dollar/articleshow/94367387.cms">Rupee slumps 51 paise to all-time low of 80.47 against US dollar</a>

Adani Transmission to become net-zero by 2050

The <keyword id="6355809" type="General" weightage="20" keywordseo="NCLT" source="Orion">NCLT</keyword> has granted <keyword id="375475" type="General" weightage="20" keywordseo="Future-Retail" source="Orion">Future Retail</keyword> Ltd (FRL) an extension of 90 days for concluding the <keyword id="5961445" type="General" weightage="20" keywordseo="Corporate-Insolvency-Resolution-Process" source="Orion">Corporate Insolvency Resolution Process</keyword> (CIRP) of the company. Allowing FRL's plea the Mumbai bench of the National Company Law Tribunal (NCLT) has extended the deadline to July 15, 2023, for concluding the CIRP of FRL. "... NCLT on April 13, 2023, heard the application and granted the said exclusion of 90 days from CIRP of FRL and consequent extension for completion of CIRP till July 15, 2023," said a regulatory filing from the company. This order was pronounced orally by NCLT on April 13, 2023, and a "written order is awaited", FRL added. The CIRP was initiated against FRL by NCLT on July 20, 2022, following loan default. The Insolvency and Bankruptcy Code (IBC) time frame for resolution is 330 days, inclusive of the time taken for litigation. As per Section 12(1) of the Code, the CIRP shall be completed within a period of 180 days from the date of initiation. However, NCLT may grant a one-time extension of 90 days. The maximum time within which CIRP must be mandatorily completed, including any extension or litigation period, is 330 days. Last week, FRL informed that they have received an Expression of Interest (EoI) from 49 players, including <keyword id="10926" type="General" weightage="20" keywordseo="Reliance" source="Orion">Reliance</keyword> Retail, Jindal Power Ltd and <keyword id="6367820" type="General" weightage="20" keywordseo="Adani-Group" source="Orion">Adani Group</keyword> for acquiring the assets of FRL. On March 23, 2023, the resolution professional (RP) of FRL invited new expressions of interest, where prospective buyers can bid for the debt-ridden firm "as a going concern or individual cluster or a combination of clusters of its assets", as it failed to attract a resolution plan in over four months. Earlier, it had received EoI and finalised 11 prospective bidders, including Reliance and April Moon Retail, but could not get a resolution plan despite two extensions in the deadline for submissions. The Committee of Creditors had provided two options in the EoI, for which the last date for submission was April 7, 2023. In the first option, the Prospective Resolution Applicant (PRA) could bid for the acquisition of Future Retail as a whole, including its shareholding interest in its subsidiaries. While under the second option, Future Retail's business has been distributed in five clusters diving business, in which PRAs can bid for "any individual cluster or any combination of clusters." As per the invitation, FRL currently has access to 302 leased retail stores spread across 23 states and Union Territories, consisting of 30 large format stores such as <keyword id="6357823" type="General" weightage="20" keywordseo="Big-Bazaar" source="Orion">Big Bazaar</keyword> and <keyword id="17144190" type="General" weightage="20" keywordseo="FBB-stores" source="Orion">FBB stores</keyword> and 272 small format stores. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/even-mild-covid-infection-can-cause-sudden-hearing-loss-study/articleshow/99488945.cms">Even mild Covid infection can cause sudden hearing loss: Study</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/pfizers-new-bivalent-mrna-covid-booster-vax-highly-effective-lancet/articleshow/99488979.cms">Pfizer's new bivalent mRNA Covid booster vax highly effective: Lancet</a>

You Searched For "Adani Transmission future plans" and got 5 results

Qatar Investment Authority unit, SBI funds, Citigroup biggest buyers in Adani Energy's USD 1 billion QIP

PTI

Adani to invest Rs 1.3 lakh crore in FY25 across its companies

PTI

Adani Transmission is looking to boost its growth by improving last mile connectivity

IANS

Adani Transmission to become net-zero by 2050

IANS

NCLT grants 90 days extension to Future Retail for concluding insolvency

PTI

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