Billionaire Gautam Adani and his family plan to inject $1 billion into the conglomerate’s renewable energy unit, people familiar with the matter said, as the group races to reach ambitious green goals while facing maturing bonds next year.
Adani Green Energy Ltd. is looking to issue preferential shares to the company’s founders for meeting expansion and refinancing needs, according to the people familiar with the discussions who didn’t want to be identified as the talks are private. Shares rose as much as 6.7% in Mumbai after the news broke, paring this year’s loss to 20%.
