Hindenburg report 'gas and fire', our FPO, investment plans on track: Adani

Group cos churning Rs 1,100 cr Ebitda a week

Dev Chatterjee Mumbai
Adani group, adani enterprises

Of the total FPO proceeds, the group flagship Adani Enterprises was planning to invest Rs 11,000 crore in the hydrogen business and Rs 4,000 crore to reduce debt

The Adani group’s operating companies are churning out Rs 1,100 crore of Ebitda (earnings before interest, depreciation, tax and amortisation) per week and the group’s investment plan in the hydrogen business remains on track, Chief Financial Officer Jugeshinder Singh told Business Standard on Sunday.
“There is no change in our follow-on public offer (FPO) plans and we are extremely confident of its success. The hydrogen project’s development is not contingent on this (the adverse report of short-seller Hindenburg). Our main focus remains on running our businesses,” Singh said.
The Rs 20,000-crore FPO is raising half the proceeds, with the rest to be mobilised over the next few months.

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First Published: Jan 29 2023 | 8:44 PM IST

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