Adani Group’s flagship company Adani Enterprises today, May 28 said that its board has approved proposal to raise funds up to Rs 16,600 crore via QIP (Qualified Insititutional Placement) or other permissible modes. As of 11:21 AM, shares of Adani Enterprises were trading flat at Rs 3,304, up 0.4% on the NSE.
“…Approved raising of funds by way of issuance of such number of equity shares having
face value of ₹ 1 each of the Company and / or other eligible securities or any
combination thereof (hereinafter referred to as “Securities”), for an aggregate amount
not exceeding ₹ 16,600 crore or an equivalent amount thereof by way of qualified
institutional placement (“QIP”) or other permissible mode in one or more tranches and
in accordance with the applicable laws,” Adani Enterprises said in an exchange filing.
The company’s energy arm Adani Energy Solutions’ board had also approved a fund raise of up to Rs 12,500 crore via QIP or other modes on May 27 (Yesterday).
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