Adani Group raises $3.2B in 6 months, targets $5B by FY 26
What's the story
Adani Group is making a strong comeback in the capital markets, having raised over $3.2 billion in just six months. The company is on track to complete its $5 billion fundraising plan by FY26. This comes as a major endorsement of its infrastructure-first strategy amid constant scrutiny. Global investors such as BlackRock, Apollo, and TotalEnergies have shown their faith in the group's growth model focused on annuity-based infrastructure development.
Growth strategy
Adani Group plans to invest $15-20B across businesses
The Adani Group is gearing up to raise another $2 billion in the coming months. The fundraising will be done across its subsidiaries, Adani Green, Adani Enterprises, and Adani Services. This comes as Chairman Gautam Adani announced the conglomerate's most ambitious expansion plan yet. He said at last month's AGM that the group intends to invest a record $15-20 billion across businesses over the next five years for growth.
Resilience
Adani Green raised $1.425B in January
The aggressive expansion timeline shows how the Adani Group has gone from a crisis-hit conglomerate to India's most sought-after infrastructure and energy player in just over a year. In January 2025, Adani Green Energy raised $1.425 billion through an equity infusion by promoters and from TotalEnergies JV. The funds were used for early bond redemption and capital optimization, marking another milestone in the group's fundraising journey.
Strategic moves
In June, Adani Group raised $750M through private bond issuance
In March, the Adani Group refinanced construction debt of one of the world's largest solar-wind hybrid parks in Rajasthan with $1.06 billion. Later, in June, it raised another $750 million through private bond issuance via Renew Exim, backed by BlackRock and Apollo. These strategic equity infusions and debt swaps have changed the group's risk profile significantly, making it attractive to global investors who were previously cautious.