The Adani Group is preparing to raise an additional $3 billion to $4 billion over the next six months, extending its aggressive capital mobilisation drive after securing Rs 43,500 crore through equity fundraising over the past nine months, according to people familiar with the matter.Adani Green Energy, Adani Ports and Special Economic Zone and Adani Enterprises are expected to be the key entities involved in the next phase of fundraising, sources told ETMarkets.The planned capital raise comes as domestic institutional investors, particularly mutual funds, increase their exposure to Adani companies. Mutual fund holdings across Adani Enterprises, Adani Ports, Adani Energy Solutions, Adani Power and Adani Green have reached an all-time high of Rs 1 lakh crore.The group’s Rs 43,500 crore equity fundraising included a Rs 3,500 crore qualified institutional placement by Adani Energy Solutions, a Rs 15,000 crore QIP by Adani Enterprises and a Rs 25,000 crore rights issue by Adani Enterprises.Adani Enterprises’ QIP was 3.8 times oversubscribed, attracting bids worth nearly Rs 38,000 crore from institutional investors. Its Rs 25,000 crore rights issue was also oversubscribed at 108%, with the public portion subscribed 130%.Also Read |Adani Energy’s Rs 3,500 crore QIP oversubscribed 3.1 times as FIIs, MFs and Azim Premji firm make bidsThe fundraising was completed despite the overhang of the DOJ-SEC proceedings, demonstrating the group’s continued access to both global and domestic capital markets.Investors participating in the fundraising included BlackRock, Apollo Global Management, Barclays, DBS Bank, MUFG, Rabobank, LIC, Power Finance Corporation, ICICI, SBI Mutual Fund, Kotak Mutual Fund and Axis Bank, among others.The group has also accessed the debt markets. Adani Power raised Rs 7,500 crore through non-convertible debentures from 17 institutions, including 10 mutual funds and leading banks. Adani Ports secured Rs 5,000 crore from LIC through a 15-year bond issue.Multiple offshore financings were completed across Adani Green, Adani Airports and Adani Ports, underlining the group’s continued access to international credit markets.Adani Green also received more than $1.1 billion in promoter capital, with the promoter family investing at prices above market levels. That investment signals long-term promoter conviction in the renewable energy business.The fundraising has coincided with elevated capital expenditure. Adani Group has maintained capital expenditure of more than Rs 2 lakh crore while executing projects, including Navi Mumbai International Airport, Guwahati Airport and the Ganga Expressway.Operationally, Adani Green has crossed 19 gigawatts of renewable capacity, while Adani Ports has handled more than 500 million metric tonnes of cargo, the highest among port operators in India.The group’s fundraising across QIPs, rights issues, bonds, NCDs, offshore loans and strategic investments highlights continued backing from global and domestic institutional investors, even as the legal overhang remains.Also Read |The great Adani trade is back with Rs 1.4 lakh crore bang! Why Adani Enterprises is Nifty’s hottest stock now