Adani Total Gas Limited (ATGL), one of India’s leading natural gas distribution companies, has secured a major breakthrough with its maiden global financing of USD 375M, marking a significant milestone in the city gas distribution (CGD) industry. This financing comes as part of ATGL’s ongoing efforts to expand its CGD infrastructure, which is set to cater to over 200 million people, covering 14% of India’s population.

The financing, executed in collaboration with five prominent international lenders, including BNP Paribas, DBS Bank, Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation, consists of an initial commitment of USD 315M, with an accordion feature that allows for enhanced commitments if required.

This capital injection will accelerate ATGL’s development program for expanding its CGD network across the country. The funds will be utilized to improve the company’s existing infrastructure, allowing it to deliver natural gas more efficiently to an expanded customer base, ultimately helping India meet its energy transition goals.

Godfrey Phillips India, on the other hand, has reached out to the Reserve Bank of India (RBI), seeking clarification on the bonus issue to non-resident shareholders, including those covered under Foreign Direct Investment (FDI) and Foreign Portfolio Investment (FPI). This clarification will play a key role in determining the smooth execution of the company’s plans to distribute bonuses among its foreign stakeholders.

Meanwhile, Mankind Pharma, a leader in India’s pharmaceutical sector, has approved a fundraising worth 100 billion rupees through the issue of non-convertible debentures and commercial papers. This financial boost will provide the company with the capital needed to further its expansion and strengthen its position in the competitive pharmaceutical industry.

In another significant move, Piccadily Agro Industries has announced that its Indri Single Malt Indian Whisky has made its debut on the shelves of premium Tesco stores in England. This is a major step for the company as it expands its footprint in the global market, bringing Indian whisky to the attention of international consumers.

Adani Total Gas continues to set benchmarks in the energy sector, and with this latest USD 375M financing, the company is well-positioned to lead India’s natural gas revolution.

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