The Adani Group is reportedly in advanced discussions with prominent sovereign funds based in West Asia to secure funding of up to $2.6 billion. This potential move to raise funds is part of the conglomerate’s expansion plans for airport infrastructure and green hydrogen projects, Business Standard reported.

While the timeline for the fundraising has yet to be decided, analysts speculate that the initiative could hit the market by mid-2024. As part of the funding strategy, Adani Enterprises, the group’s flagship entity, may consider diluting its stake in either the airport-holding firm or the green hydrogen business to accommodate the participation of these sovereign funds who are keen to put money in India’s infrastructure sector, the report said citing unnamed sources.

Adani Group has embarked on a series of roadshows in key financial hubs such as London, Dubai, and Singapore. During these engagements, Adani executives have been briefing potential investors on the company’s future endeavors.

The group expects reaching Ebitda of Rs 80,000 crore in this financial year ending on March 31.