Mumbai: Adani Total Gas Ltd, the joint venture between Adani Gas Ltd and French energy major Total Gas Ltd will raise $400 million selling bonds to foreign investors to meet its capital expenditure requirement, an official said today.
“We will be raising $400 million in dollar denominated bonds to finance our capex requirement for the next two years. Over the next five years we need around ₹8,000 crore to fund our capital expenditure. This is part financing for the same,” said Suresh Manglani, CEO, Adani Gas today on earnings call with media.
Manglani added that Adani Gas will be rechristened as Adani Total Gas Ltd. France’s Total SA had last October agreed to acquire 37.4% stake in Adani Gas Ltd for ₹5,700 crore.
