New Delhi, 10 April (IANS). Blacrock, the leading US asset manager Blackrock, is the largest investor in a $ 750 million private bond released by the Indian veteran Adaani Group. This information was given by sources on Thursday.
According to people associated with the case, this move by Blacrock is the first private placement of asset manager in the field of infrastructure in India.
Blackrock’s participation also indicates that it has no apprehension about any significant operations for the group from legal proceedings in the US.
Blackrock, who oversees a $ 12 trillion $ 12 trillion dollars globally, has taken one third of the $ 750 million issue, which is 3 to 5 years old.
In addition to Blackrock, five other institutional investors also participated in the gathering of capital group.
According to sources, a $ 750 million bond issue of DMCC, a full -owned offshore entity of Adani Group’s promoter family, will be used to acquire ITD cementation and to finance opportunities for other development opportunities.
Adani Group had announced to purchase a 46.64 percent stake from its promoters in ITD Cementation last year for Rs 5,888.57 crore to strengthen its engineering capabilities in the infrastructure sector.
Renew Exim has since gained an additional 20.81 percent stake through an open offer at Rs 400 per share.
Jawaharlal Nehru Port Trust and Tuticorin, Mundra and Vizhinjam, famous ITD cementation worldwide, is seen as a strategic property for the long-term investment ambitions of Ada.
According to Blackrock Chairman Larry Fink, “Infrastructure is one of the most exciting long -term investment opportunities, as many structural changes give a new shape to the global economy.”
Adani group sees the entry of the world’s largest investor as a strong trust vote.
This shows the second private dollar of Adani group to issue bonds. In February, the group raised around $ 200 million for its Australian port operations.
-IANS
SKT/ABM
