Promoters' loans, rising earnings help Adani cos to slash interest costs

Group plans to list infra SPVs to slash debt

Low-cost loans worth Rs 35,000 crore given to various listed Adani group companies by the promoter entities have helped them incubate long gestation projects such as roads, ports, airports and have reduced finance costs in FY22.

The group’s capital management strategy in the coming years is to tap equity markets after commissioning its various ongoing infrastructure projects and use the IPO proceeds and company’s own earnings to reduce debt, said a banker privy to the group’s plans.

The group’s listed entities reported cash and cash equivalents of Rs 27,579 crores, and net external long-term debt of Rs 1.37 trillion for the 2022