Adani Group’s energy arm Adani Energy today, May 27 said that its board has approved proposal to raise funds up to Rs 12,500 crore via QIP (Qualified Insititutional Placement) or other permissible modes. Shares of Adani Energy Solutions ended flat at Rs 1,104.70 on tbe NSE.
“We wish to inform you that the Board of Directors of the Company (the “Board”), at its meeting held today, i.e. May 27, 2023, commenced at 2.30 p.m. and concluded at 4.00 p.m. has approved raising of funds by way of issuance of such number of equity shares having face value of ₹ 10 each of the Company (“Equity Shares”) and / or other eligible securities or any combination thereof (hereinafter referred to as “Securities”), for an aggregate amount not exceeding ₹ 12,500 crore (Rupees Twelve Thousand Five Hundred Crore only) or an equivalent amount thereof by way of Qualified Institutional Placement (“QIP”) or other permissible mode in accordance with the applicable laws, in one or more tranches,” the company said in an exchange filing.
