India’s Adani Group is in advanced talks with West Asia-based sovereign funds to raise up to $2.6 billion for its airport expansion and green hydrogen projects, the Business Standard daily reported late on Sunday. The Adani Group’s flagship firm Adani Enterprises may reduce its stake in either the airport-holding firm or the green hydrogen business, or both, for investment funds, the report added, citing a source close to the development.
The timing of the fundraising is yet to be determined, but it is expected to be launched in the market by mid-2024, the newspaper said. The Adani Group did not respond to a Reuters’ request for comment.
