<p>New Delhi: Shares of Adani Total Gas Ltd surged more than 8 per cent on Monday after the firm secured Rs 3,132 crore ($375 million) funding from global lenders for expansion of its business.</p>.<p>The stock jumped 8.37 per cent to Rs 854.65 on the BSE. Shares of the firm at the NSE soared 8.40 per cent to Rs 855.</p>.<p>"The maiden financing of Rs 3,132 crore ($375 million) executed with international lenders include an initial commitment of Rs 2,631 crore ($315 million) with accordion feature to enhance the commitments," the firm said in a statement on Friday.</p>.<p>Five international lenders participated in the initial financing -- BNP Paribas, DBS Bank, Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation.</p>.Adani Energy Solutions valued at $18.5 billion; revenue to grow 20%.<p>"The facility will fast-track the capital expenditure program enabling ATGL to rapidly expand its City Gas Distribution (CGD) network into its 34 authorized geographical areas (GAs) across 13 states," it said.</p>.<p>This shall cater to up to 14 per cent of India's population covering more than 200 million people.</p>.<p>The expansion will deepen the penetration of piped natural gas (PNG) and compressed natural gas (CNG) infrastructure, creating an ecosystem for a gas-based economy.</p>.<p>"Participation from the global lenders reinforces the potential of city gas distribution in its role as transition fuel," said Parag Parikh, CFO of ATGL.</p>
<p>New Delhi: Shares of Adani Total Gas Ltd surged more than 8 per cent on Monday after the firm secured Rs 3,132 crore ($375 million) funding from global lenders for expansion of its business.</p>.<p>The stock jumped 8.37 per cent to Rs 854.65 on the BSE. Shares of the firm at the NSE soared 8.40 per cent to Rs 855.</p>.<p>"The maiden financing of Rs 3,132 crore ($375 million) executed with international lenders include an initial commitment of Rs 2,631 crore ($315 million) with accordion feature to enhance the commitments," the firm said in a statement on Friday.</p>.<p>Five international lenders participated in the initial financing -- BNP Paribas, DBS Bank, Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation.</p>.Adani Energy Solutions valued at $18.5 billion; revenue to grow 20%.<p>"The facility will fast-track the capital expenditure program enabling ATGL to rapidly expand its City Gas Distribution (CGD) network into its 34 authorized geographical areas (GAs) across 13 states," it said.</p>.<p>This shall cater to up to 14 per cent of India's population covering more than 200 million people.</p>.<p>The expansion will deepen the penetration of piped natural gas (PNG) and compressed natural gas (CNG) infrastructure, creating an ecosystem for a gas-based economy.</p>.<p>"Participation from the global lenders reinforces the potential of city gas distribution in its role as transition fuel," said Parag Parikh, CFO of ATGL.</p>