With Rs 4.2 trn m-cap, Adani Green is now India's 10th most valued firm
- IBEF
- April 12, 2022
Adani Green Energy's stock price soared 20% to a new high of Rs. 2,788.70 (US$ 36.75) on the BSE, putting it among the top ten most valuable companies in the country in terms of market capitalization. It has a market capitalization of Rs. 4.22 trillion (US$ 56 billion), surpassing Bharti Airtel, which has a market capitalization of Rs. 4.16 trillion (US$ 55 billion).
After UAE's International Holding Company (IHC) decided to invest Rs. 3,850 crore (US$ 507.3 million) in Adani Green Energy through a preferential issuance, the stock has soared 29% in the last two trading days.
With 20.4 gigawatts (GW) of locked-in growth across operational, under-construction, awarded, and acquired assets, Adani Green Energy has one of the world's largest renewable portfolios, catering to investment-grade counterparties. Utility-scale grid-connected solar and wind farm projects are developed, built, owned, operated, and maintained by the company. Solar Energy Corporation of India (SECI), National Thermal Power Corporation (NTPC), and several State Discoms are the company's main customers. Adani Green raised US$ 288 million for its under-construction renewable asset portfolio through definitive agreements inked with a consortium of prominent international lenders, bringing its total construction financing framework to US$ 1.64 billion.
Adani Green has set a goal of achieving 45 GW of renewable energy capacity by 2030, accounting for 10% of the Indian government's 450 GW renewable energy objective.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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