“The proposed bond issuances by the Adani group companies will be used to repay domestic debt of the company. On 24 September, JSW said it has raised $400 million through dollar bonds for capital expenditure and other purposes. A spokesperson for the Adani group said it won’t comment on speculation. As on 31 March, Adani Transmission had a net outstanding debt of ₹17,900 crore, according to its investor presentation, comprising rupee and dollar bonds, masala bonds, commercial paper and external commercial borrowings. Adani Transmission is India’s largest private transmission company with a cumulative transmission network of around 14,217 circuit km, of which 11,348 ckt km is operational.

Source: Mint September 29, 2019 17:48 UTC