Adani Group logo.
Credit: Reuters File Photo
New Delhi: Adani Green Energy Ltd (AGEL) on Monday said it has completed the funding for redemption of over Rs 62,000 crore bonds, eight months ahead of their maturity.
The Adani Group company had raised over Rs 62,000 crore through the issuance of NCDs (non-convertible debentures) which will mature in September this year.
On January 8, AGEL had announced a plan to ensure early redemption of its Rs 62,000 crore bonds.
In a statement on Monday, AGEL said it has 'completed the funding for the USD 750 million 4.375 notes due September 9, 2024 (Holdco Notes) with the receipt of the funds under the preferential allotment of Rs 9,350 crore (USD 1,125 million) to the promoters.'
Sharing a break-up, AGEL said Rs 14,000 crore has been put through the reserve accounts and internal accruals, while about Rs 25,000 crore has recently been invested by TotalEnergies through a joint venture.
The remaining Rs 23,000 crore million has been secured through promoter preferential allotment.
AGEL, which is India's largest and world's leading renewable energy solutions company, develops, owns, and operates utility-scale grid-connected solar, wind and hybrid renewable power plants.
It currently has an operating renewable portfolio of 8.4 GW, spread across 12 states, offsetting over 41 million tonnes of CO2 emissions cumulatively.