The Adani Transmission has received the approval of the shareholders to raise Rs 8,500 crore through issuance of equity shares on a qualified institutional placement basis.
According to the company, 98.64% votes were in favour of the resolution and the raised capital would be used for growth and expansion of the company. The company’s board approved the proposal on 15th May through postal ballot.
The company, in its recent press release said, ”On the basis of the report received from CS Chirag Shah, Scrutinizer, I hereby declare the result of the postal ballot voting process for the above-mentioned proposal as annexed herewith. Since, 98.64%, votes are polled in favour of the said Resolution, I hereby declare the resolution carried as a Special Resolution as mentioned in the notice dated 13th May, 2023 with requisite majority”
The Adani Enterprises earlier expressed about them anticipating growth opportunities in their existing operations and how they continue evaluating various avenues for organic expansion and to achieve inorganic growth. The company till date necessitates capital to facilitate growth and expansion.
The Adani Transmission saw an increase in its share on Monday over the positive reports on its Mumbai power project. Apart from Adani Transmission, the rest of the Adani Enterprises stocks have been trading in red.
Adani Group has witnessed some recovery from the shifts it went through during the aftermath of the Hindenburg report.
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