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Adani IPO: Adani Group plans to hive off airport business, launch IPO

The Gautam Adani-led business house entered the airport sector in 2019. Rs 30k-cr Capex Plan for Airports Incubated within Adani Enterprises, Adani Airports won the mandate to modernise and operate six airports – Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram – through the Airports Authority of India’s tendering process. The unit has become the country’s top airport platform, catering to at least 10% of India’s air passenger traffic, exceeding 200 million people in FY20. In August last year, the group announced that it had acquired a 74% stake in Mumbai International Airport (MIAL), which runs Chhatrapati Shivaji Maharaj International Airport. This gave Adani ownership of the upcoming Navi Mumbai Airport, in which MIAL holds 74%. Adani Airports has debt of Rs 4,100 crore while that of AEL amounts to Rs 15,293 crore.

Tata Power arm CGPL raises Rs 570 cr via non-convertible debentures

Read more about Tata Power arm CGPL raises Rs 570 cr via non-convertible debentures on Business Standard. Tata Power on Thursday said its wholly-owned subsidiary CGPL has raised Rs 570 crore through issuance of non-convertible debentures (NCDs)."Coastal Gujarat Power Limited (CGPL). has successfully issued and allotted unsecured, rated, listed,

Coastal Gujarat Power raises Rs 570 cr via private placement of NCDs

Coastal Gujarat Power (CGPL), a wholly-owned subsidiary of the Tata Power Company, has successfully issued and allotted Unsecured, Rated, Listed, Taxable, Guaranteed, Redeemable Non-Convertible Debentures (NCDs) for an amount of Rs 570 crore on private placement basis issued for a tenor of 3 years. The NCDs have been rated IND AA(CE)/Stable by India Ratings & Research and will carry a coupon rate of 5.70%, payable annually. The debt obligations of CGPL under the NCDs are guaranteed by the Company. The proceeds of the NCDs will be utilised by CGPL towards refinancing of their existing debt, capital expenditure and augmentation of working capital.

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