Adani Total Gas zooms on securing largest global financing in city gas distribution business
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Adani Total Gas is currently trading at Rs. 832.95, up by 44.35 points or 5.62% from its previous closing of Rs. 788.60 on the BSE.
The scrip opened at Rs. 845.00 and has touched a high and low of Rs. 854.65 and Rs. 824.55 respectively. So far 217512 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1259.90 on 08-Dec-2023 and a 52 week low of Rs. 521.95 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 854.65 and Rs. 772.95 respectively. The current market cap of the company is Rs. 92268.57 crore.
The promoters holding in the company stood at 74.80%, while Institutions and Non-Institutions held 19.11% and 6.09% respectively.
Adani Total Gas (ATGL) has secured largest global financing in the city gas distribution business. ATGL has entered into an overall financing framework which enables ATGL to secure future funding based on its business plan.
The maiden financing of $375 million executed with international lenders include an initial commitment of $315 million with accordion feature to enhance the commitments. Five international lenders participated in the initial financing which includes BNP Paribas, DBS Bank, Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation.
The facility will fast track the capital expenditure program enabling ATGL to rapidly expand its CGD network into its 34 authorized Geographical Areas (GAs) across 13 states. This development agenda shall cater to up to 14% of India’s population covering more than 200 million people. The expansion will deepen the penetration of Piped Natural Gas (PNG) and Compressed Natural Gas (CNG) infrastructure, creating an ecosystem for a gas-based economy.
Adani Total Gas specialises in the development of city gas distribution (CGD) networks for the continuous supply of piped natural gas (PNG) and compressed natural gas (CNG).
