MUMBAI, Sept. 3 -- The Adani Group is looking to borrow funds through one of the conglomerate's privately held and most profitable entities to refinance debt taken to acquire its listed cement business.

The group is considering raising the debt through promoter-owned Adani Infra (India) Ltd to refinance part of the loan taken by the Adani family to fund the acquisition of Ambuja Cement and ACC four years ago.

It is looking to get favourable interest rates by leveraging Adani Infra's orderbook of over Rs.50,000 crore and annual profit of more than Rs.7,000 crore, a person directly aware of the development said.

The plan is still in the early stages of exploration and the quantum of the debt to be raised has not been decided. However, it...