Adani seeking to raise Rs 33K crore to fund green hydrogen plans

Billionaire Gautam Adani’s Adani Group is seeking to raise as much as Rs 33,297.4 crore to help develop manufacturing plants that would produce low-cost green hydrogen, according to people familiar with the matter.

Adani New Industries Ltd., a wholly-owned subsidiary of flagship company Adani Enterprises Ltd., will take the lead raising the money from domestic and international banks and is in early-stage talks with several lenders, the people said, asking not to be identified because the details are private.

Representatives for Adani didn’t respond to a request for comment.