The group is re-evaluating its investment plans, especially in non-infrastructure businesses. The Adani family recently sold USD1.9 billion in shares across various group entities to a US-based fund. Two of the boards at Adani group companies - Adani Transmission Limited (BBB-/Stable) and Adani Enterprise - approved a plan to raise a total of about USD2.5 billion from the stock market. The additional funding will support financial flexibility across Adani group entities, mitigating the risks. Financial Profile Fitch assumes the 24% bullet principal repayment will be refinanced upon maturity by fully amortising debt across the remaining PPA terms at a higher refinancing interest rate of 10.5%.