Adani Energy Solutions board approves fundraising up to Rs 12,500 crore
Adani Group (Photo: Bloomberg)
Adani Energy Solutions on Monday said its board has approved a fundraising of up to Rs 12,500 crore ($1.50 billion).
Adani Energy Solutions, in a message to BSE last week, said its board will meet on Monday to consider and approve the fundraising proposal.
The company noted that this increase could be made through the issuance of shares or other eligible securities through permitted methods. The modes include private placement, qualified institutional placement, preferential issuance or any other method or combination of methods.
In a separate note, Adani Enterprises also announced last week that the company’s board of directors will meet on Tuesday to consider and approve the proposal to raise funds through equity or other eligible securities.
Shares of Adani Energy Solutions Ltd ended marginally lower at Rs 1,104.05 on Monday.
First print: May 27, 2024 | 5:02 PM IST