Adani Total Gas' (NSE:ATGL, BOM:542066) has secured an initial commitment of $375 million from certain global lenders, according to a filing with the Indian bourses on Friday.
The five international banks that participated in the maiden financing are BNP Paribas, DBS Bank, Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking.
This funding will accelerate Adani's expansion of its City Gas Distribution network across 34 areas in 13 states, covering up to 14% of India's population.
Adani Total Gas' shares gained nearly 5% at market close.
Price (INR): â¹829.70, Change: â¹+41, Percent Change: +5.20%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments