Adani group to review capital raising after $2.5bn share sale’s withdrawal

Y USE AEL ? INSTEAD THEY CAN USE ADANI PORTS (APL) .EVEN IF THE AIM IS TO START,MEDICAL INFRASTRUCTURE. AS A SPV. AEL HAS NO REVENUE MODEL. APL HAS 55000 CRORES DEBT AND 39000 CRORES EQUITY,WITH A PAT OF 5500 CRORES AND CASH PROFIT,OF 8200 CRORES. THERE IS AMPLE SCOPE TO PLACE EQUITY,NON VOTING SHARES AND REFINANCE DEBT.APL PAT IS FLAT IN THE LAST 2 YEARS,AND SO,THE HAIFA AND LANKA ACQUISITION. THERE IS CONTINGUITY BETWEEN PORTS/ROADS/POWER AND TRANSMISSION. THE CORE COMPETENCE IS THE SAME AS THEY ARE ALL SERVICE INDUSTRIES. SO USING THE BALANCE SHEET TO LEVERAGE DEBT/PE TO ONLEND TO THE NAVRATNAS, MAKES SENSE AND WILL ALSO BOOST THE TREASURY INCOME,OF APL.. THE APL DEBT CAN BE RESTRUCTURED,BY HARVESTING THE CASH FLOWS AND ASSETS, OF THE STEP DOWN SUBSIDIARIES,OF THE NAVRATNAS. SAMIR SARDANA APL HAS HAD A SHARP RISE IN COSTS IN FY 2022, AND A FX LOSS OF 900 CRORES (VS FX GAIN OF 800 CRORES IN FY21).APL HAS TO DERISK ITS FX AND RECESSION RISK, VIA PE STAKES, IN NAVRTANAS