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Adani Group proposes to raise Rs.5,000-6,000 crore of equity via a mixture of primary issuances and secondary monetization of its stake in some of its subsidiaries.
The group also plans to sell some of its stake in Adani Transmission (ATL) and Adani Green Energy (AGEL). Howerer, the group is now not planning to undertake any further monetisation of its 62.3% stake in APSEZ, for a period of one year.
Further, the company stated that, proceeds from the equity-raising program would be used towards strengthening the balance sheet position of group companies, including deleveraging the power business and will also be used to part fund the proposed acquisition of integrated business of generation, transmission and distribution of power for Mumbai.
