Cash-Hungry Adani Utility Shows Funding Urgency to Power India
- Adani Transmission’s portfolio surged 3.6-fold in seven years
- Ability to fund, execute projects will signal group’s recovery
As shares of Gautam Adani’s conglomerate recover from an epic rout, the big question looming over the Indian tycoon is whether he can convince investors and lenders to back his capital-hungry businesses with fresh cash.
Few parts of Adani’s empire underscore the urgency of that funding for the billionaire — and also for the government of Indian Prime Minister Narendra Modi — better than Adani Transmission Ltd.