Shares of Adani Ports and Special Economic Zone Ltd and IDFC First Bank will be in focus today as both companies have scheduled board meetings on April 17, 2025, to consider proposals for raising capital through preferential issue of equity shares.
Adani Ports and SEZ
Adani Ports informed the exchanges that its board will meet on April 17 to evaluate a proposal for issuance of equity shares by way of preferential issue. The issuance, if approved, will be in accordance with applicable provisions under the Companies Act, SEBI Listing Regulations, and SEBI (Issue of Capital and Disclosure Requirements) Regulations.
The board will also consider convening an extraordinary general meeting or initiating a postal ballot process to seek shareholder approval for the proposed capital raise. The fund-raising move comes amid the company’s ongoing focus on port infrastructure expansion and strategic investments.
IDFC First Bank
In a similar development, IDFC First Bank has also announced that its board will meet on April 17 to consider and approve a proposal for raising funds via issue of eligible securities on a preferential basis.
The fund raise would be subject to necessary regulatory and shareholder approvals. The bank noted that the trading window for insiders will remain closed until April 28, 2025, in compliance with insider trading regulations.
Both companies are expected to disclose further details post the conclusion of their respective board meetings later this week.
Disclaimer: The above article is based on official exchange filings made by the companies. Please consult a financial advisor before making any investment decisions.
