Editor’s synopsis

• The largest infra investment participation program, with $9 billion raised over a short span of four years
• One-stop play for global long only investors to participate in fastest growing infrastructure development, with no equivalent platform in emerging markets
• Program supported strategic priorities, including prepayment of margin linked share backed Offers flexibility to equitize debt capital in rising interest rate environment
• Committed to ongoing 10-year capital program, formulated in 2016 and to be concluded in 2025

Ahmedabad, 9 July 2023: Adani Group, which started the capital transformation journey for its core infrastructure portfolio in 2019, has raised over $9 billion in a short span of four years. The program paved the way for long-only global investors to participate in the world’s largest and fastest-growing infrastructure development where Adani portfolio offers a one-stop play through its portfolio companies spread across the infrastructure spectrum from energy and utility to transport and logistics. It has attracted investments across various listed entities – Adani Ports and Special Economic Zone Limited (APSEZ), Adani Green Energy Limited (AGEL), Adani Transmission Limited (ATL), Adani Total Gas Limited (ATGL) and Adani Enterprises Limited (AEL).

In line with the group’s capital management philosophy of enabling participation of strategic long term investors, Adani has attracted large-scale investments from the likes of Qatar Investment Authority (QIA), TotalEnergies (TTE) , International Holding Company (IHC), as well as GQG Partners (GQG) along with its co-investors Australia Super, Goldman Sachs, University of Texas, Delaware Public Employees Retirement System, Master Trust Bank of Japan, Missouri Education Pension Trust, Abu Dhabi Investment Authority, Universal Investment Luxembourg, New York State Common Retirement Fund and Employees Retirement System of Texas.

ATL – Adani Transmission Limited, ATPL – Adani Total Private Limited, ATGL – Adani Total Gas Limited, AGEL – Adani Green Energy Limited, AEL – Adani Enterprises Limited, ATL – Adani Transmission Limited

The faith and confidence shown by these large global investors are proof of the underlying strength of the group’s businesses and the Adani Group’s commitment to the highest level of governance. Moreover, the success of the investment program also demonstrates the group’s ability to raise funds across companies at each stage and achieve the stated goals.

In the most recent instance, Adani family has raised $1.38 billion (Rs. 11,330 crore) through stake sale in the three portfolio companies—AEL, AGEL and ATL. This ensures higher capital availability at the group level, for growth as well as near-term

commitments of both debt and equity for the portfolio companies over the next 12-18 months. In addition, the three portfolio companies have also received board approval for primary issuances.

A similar stake-sale by the family in March 2023 aggregating to $1.87 billion (Rs. 15,446 crore), resulted in full prepayment of margin-linked, share-backed financing and created flexibility in a rising rate environment to equitize debt capital as and when due.

AEL is among the world’s largest business incubators, with focus on building infrastructure businesses. Its strategic priorities include the airport and green hydrogen business. Green hydrogen will enable decarbonization of industrial and mobility sectors, and support India’s push towards self-sufficiency in primary energy.

AGEL is the largest and the fastest growing renewable power company in India with operational portfolio of 8.1 GW. It envisions commissioning 45 GW of renewable energy capacity by 2030, while being the lowest cost generator of renewable power.

ATL is the largest private energy solutions player in India with presence in power transmission and distribution and an increasing focus on smart metering. Smart meters will enable electricity distribution companies to efficiently integrate and plan renewable energy into power grids and are essential tools for the decarbonization of the energy sector.

Adani is committed to raising capital to fulfill its 10-year roadmap of the transformative capital management program, which was formulated in 2016 to execute the plans for various portfolio companies.

About the Adani Group

Headquartered in Ahmedabad, India, the Adani Group is the largest and fastest-growing portfolio of diversified businesses in India with interests in Logistics (seaports, airports, logistics, shipping and rail), Resources, Power Generation and Distribution, Renewable Energy, Gas and Infrastructure, Agro (commodities, edible oil, food products, cold storage and grain silos), Real Estate, Public Transport Infrastructure, Consumer Finance and Defence, and other sectors. Adani owes its success and leadership position to its core philosophy of ‘Nation Building’ and ‘Growth with Goodness’ – a guiding principle for sustainable growth. The Group is committed to protecting the environment and improving communities through its CSR programmes based on the principles of sustainability, diversity and shared values. Further information at www.adani.com.

For media queries, please contact: Roy Paul; roy.paul@adani.com