Dani Transmission Ltd (ATL), the transmission and distribution arm of the diversified Adani Group, has won the Asia-Pacific Indian Deal of the Year award from Project Finance International (PFI). The award distinguishes ATL for the USD 700 Mn revolving project finance facility performed under the framework agreement to finance greenfield transmission projects for the first time in India.
PFI, a globally renowned publication focused on project finance reporting, has recognized the innovative assembly of the facility which has certain unique features:
Platform Infrastructure Financing Framework of agreed principles simplifying the capex program of USD 1.1 Bn on fully drawn basis to support the
evacuation and penetration of renewable energy through efficient grid infrastructure implementation.
Unique drawdown and repayment simplifying construction on differing timelines.
Embedded capital market issuance through go-to-market feature fulfilling bank's recycling requirement.
"This project financing deal is exclusive to the sector and is the first of its kind authorized by international banks in the transmission sector, and it is encouraging to see that it has attracted this recognition from PFI," said Mr. Anil Sardana, MD and CEO, ATL. "The facility and the relationship recognized with various international banks are the key elements of ATL's overall capital management plan and is central to fully funding its growth ambitions. The Platform Infrastructure Financing Framework marries the capex program of ATL with the capital allocation from the banks in the most efficient manner to ensure overall capital stewardship continued through our capital management philosophy focused on unbiased growth."
Shares of Adani Transmission Limited was last trading in BSE at Rs. 1769.65 as associated to the previous close of Rs. 1817.55. The total number of shares traded during the day was 2005 in over 272 trades.
The stock hit an intraday high of Rs. 1826.00 and intraday low of 1765.00. The net turnover during the day was Rs. 3559106.00.