Adani Transmission has decided to raise Rs 5,000 crore through issue of debentures or any other permissible debt securities. The board of directors in its meeting held on March 30, 2016 has given in-principle approval to company to raise funds up to Rs 5,000 crore or equivalent in any currencies.
The proceeds of the notes (bonds) will be utilised to refinance certain existing indebtedness and finance other working capital requirement and general corporate purposes of the company.
Adani Transmission is the transmission business arm of the Indian business conglomerate - Adani Group. Be it Engineering, Construction management or Operation & Maintenance, Adani Transmission has significant presence in the Indian Transmission Sector.
