top of page
-

Adani Enterprises, led by Gautam Adani, plans to raise Rs 16,600 crore through a Qualified Institutional Placement to fuel an ambitious expansion drive in its business operations.




Adani Enterprises, led by Indian billionaire Gautam Adani, greenlit a plan to raise approximately Rs 16,600 crore (around $2 billion). The company disclosed in a stock exchange filing that it intends to conduct the fundraising through avenues like Qualified Institutional Placement (QIP) or other permissible methods, subject to requisite approvals, including from shareholders, at the forthcoming Annual General Meeting (AGM) scheduled for June 24, 2024. Additionally, Adani Energy Solutions Ltd also aims to secure funding, with plans to raise up to Rs 12,500 crore. Together, these two entities seek to gather Rs 29,100 crore (approximately $3.5 billion). The capital raised will be directed towards various projects, including airports and ventures in new energy such as green hydrogen. These fundraising endeavors signify the Adani Group's strategic push to expand its presence across different sectors, spanning from energy to infrastructure. The fundraising by Adani Enterprises will occur in phases, incorporating the issuance of equity shares valued at Rs 1 each, along with other securities, subject to compliance with relevant laws and prevailing market conditions. This newly approved plan supersedes prior approvals granted in 2023, which are nearing expiration. Both Adani Enterprises and Adani Energy Solutions Ltd will seek shareholder endorsement for these fundraising initiatives during their respective AGMs.





0 views0 comments

Comments


bottom of page