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Adani Enterprises approves raising up to ₹16,600 crore via QIP, other methods

Adani Enterprises did not share the timeline for a Qualified Institutional Placement or methods using which it intends to raise these funds and by when.

Updated on: May 28, 2024, 11:54:59 IST
By HT News Desk | Edited by Mallika Soni
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Adani Enterprises Ltd., Adani Group's flagship company, approved raising a total of ₹16,600 crore through an institutional share sale or other permissible methods, it said in an exchange filing. However, the company did not share the timeline for a Qualified Institutional Placement (QIP) or the other methods using which it intends to raise these funds and by when.

The logo of the Adani Group seen on the facade of its Corporate House on the outskirts of Ahmedabad. (Reuters)
The logo of the Adani Group seen on the facade of its Corporate House on the outskirts of Ahmedabad. (Reuters)

The fund raising will be subject to approval from shareholders at the ensuing Annual General Meeting (AGM) of the company. This will take place on June 24. This comes after Adani Energy Solutions approved raising up to ₹12,500 crore through a QIP or other permissible methods.

Shares of Adani Enterprises traded 0.4% higher today (May 28) at ₹3,343.

 
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HT News Desk

Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.

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