Adani Enterprises Approves Raising of Rs 16,600 Cr Via QIP, Other Methods

Adani Enterprises, the flagship company of the Adani Group on Tuesday approved a total fundraise of 16,600 crore rupees via Qualified Institutional Placement (QIP) or other methods. However, the company has not shared the timeline for the QIP, or other methods. 

Key Takeaways from Adani Enterprises’ Fundraise: 

• Adani Enterprises approved fundraising of 16,600 crore rupees via Qualified Institutional Placement (QIP) or other methods.
• The timeline for the fundraising has not been specified.
• The fundraising will be subject to the approval of shareholders at its AGM on June 24, 2024.

The fundraising will be subject to the approval of shareholders at the Annual General Meeting of the company on June 24, 2024.

On Monday, Adani Energy Solutions also approved fundraising of up to Rs 12,500 crore rupees through QIP or other permissible methods.

In 2023, Adani Enterprises planned to raise 20,000 crore rupees via the country's largest Follow-on Public Offer by selling shares between 3,112 rupees to 3,276 rupees per share. The FPO also received a full subscription.

About Adani Enterprises Limited:

Adani Enterprises Limited, the flagship company of Adani Group, is one of India’s largest business organisations. Adani Enterprises focuses on building emerging infrastructure businesses, contributing to nation-building and divesting them into separate listed entities. The company has successfully built sizeable and scalable businesses like Adani Ports & SEZ, Adani Energy Solutions, Adani Power, Adani Green Energy, Adani Total Gas and Adani Wilmar, to make India self-reliant with its robust businesses.

Read More About Adani Enterprises Limited Share Price Here!