At 9:20 am, Adani Total Gas (ATGL) saw its stock rise by 6.22%, trading at ₹837.75 in early trade, after securing its maiden global debt financing of $375 million for network infrastructure development. The company entered into a financing framework with global lenders to fund future growth plans. The initial commitment of $315 million, with the potential for enhancement, includes participation from major international banks such as BNP Paribas, DBS Bank, Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation.
This funding will expedite ATGL’s capital expenditure program, enabling rapid expansion of its city gas distribution (CGD) network across 34 authorized geographical areas, covering up to 14% of India’s population. This expansion aims to bolster the penetration of piped natural gas (PNG) and compressed natural gas (CNG), supporting India’s transition to a gas-based economy.
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