The Adani Group is preparing to raise an additional $3-4 billion over the next six months, extending its aggressive capital mobilisation drive after securing ₹43,500 crore through equity fundraising over the past eight months. According to reports from The Economic Times, Adani Green Energy, Adani Ports and Special Economic Zone, and Adani Enterprises are expected to be the key entities involved in the next phase of fundraising. The planned capital raise comes as domestic institutional investors, particularly mutual funds, increase their exposure to Adani companies. The latest fundraising demonstrates that confidence in the group is bouncing back, with the fresh funds set to power up new projects including airports, roads, data centers, and clean energy while helping pay down debt.
Mutual fund holdings across Adani Enterprises, Adani Ports, Adani Energy Solutions, Adani Power and Adani Green have reached an all-time high of ₹1 lakh crore. As reported by The Economic Times, this represents a significant increase in institutional investor confidence in the Adani group companies. The fundraising was completed despite the overhang of the DOJ-SEC proceedings, demonstrating the group's continued access to both global and domestic capital markets. SBI Mutual Fund alone grabbed over 15% of shares in Adani Enterprises' latest QIP and invested nearly ₹5,750 crore recently, signalling that big Indian investors see real potential in Adani's future plans. The market value of mutual-fund holdings across five of the group's largest listed companies has climbed to an all-time high of about ₹1 lakh crore.
The ₹43,500 crore equity fundraising comprised Adani Enterprises' ₹25,000 crore rights issue completed in December 2025, its ₹15,000 crore QIP earlier this month, and Adani Energy Solutions' ₹3,500 crore QIP which closed this week. According to The Economic Times, Adani Enterprises' QIP was 3.8 times oversubscribed, attracting bids worth nearly ₹38,000 crore from institutional investors. Its ₹25,000 crore rights issue was also oversubscribed at 108%, with the public portion subscribed 130%. Adani Energy Solutions plans to use the proceeds to fund capital expenditure, repay debt, pursue potential acquisitions and meet general corporate requirements. The response to the two QIPs comes amid a sharp increase in domestic mutual-fund exposure to the group, with domestic funds increasing their exposure even as GQG Partners, one of the group's largest foreign institutional investors, pared stakes in some Adani companies in the June quarter.
The group has also accessed debt markets successfully, with Adani Power raising ₹7,500 crore through non-convertible debentures from 17 institutions, including 10 mutual funds and leading banks. As reported by The Economic Times, Adani Ports secured ₹5,000 crore from LIC through a 15-year bond issue. Adani Green received more than $1.1 billion in promoter capital, with the promoter family investing at prices above market levels, signalling long-term promoter conviction in the renewable energy business. SBI Mutual Fund was also the biggest institutional investor in Adani Enterprises' QIP, with various SBI schemes lapping up over 15% of the total shares offered to investors, while the fund also acquired shares worth around ₹5,750 crore in Adani Enterprises and Adani Energy Solutions from GQG through block deals in June.
The fundraising has coincided with elevated capital expenditure, with the Adani Group maintaining capital expenditure of more than ₹2 lakh crore while executing projects including Navi Mumbai International Airport, Guwahati Airport and the Ganga Expressway. According to The Economic Times, Adani Green has crossed 19 gigawatts of renewable capacity, while Adani Ports has handled more than 500 million metric tonnes of cargo, the highest among port operators in India. Adani Enterprises plans to deploy the proceeds across its portfolio of infrastructure businesses, including airports, roads, data centres and new-energy ventures, with a part of the funds being used to reduce debt. Investors participating in the fundraising included BlackRock, Apollo Global Management, Barclays, DBS Bank, MUFG, Rabobank, LIC, Power Finance Corporation, ICICI, SBI Mutual Fund, Kotak Mutual Fund and Axis Bank, among others.
