Indian Oil-Adani Gas JV plans $161 million convertible bond sale
Indian Oil-Adani Gas is planning to raise around $161 million (₹1,378 crore) from the sale of convertible bonds, reports stated. The firm is a joint venture (JV) between Indian Oil Corporation and Adani Total Gas. The fundraising comes as government plans to increase the share of natural gas in the energy mix from the current 6% to 15% by 2030.