Adani Energy Solutions to raise ₹12,500 crore via QIP.
Adani Energy Solutions, led by Gautam Adani, aims to raise ₹12,500 crore through qualified institutional placement (QIP) to fuel infrastructure growth in India.
Billionaire Gautam Adani's Adani Energy Solutions Ltd. has announced plans to raise funds amounting to ₹12,500 crore through the qualified institutional placement (QIP) route or other approved means, across multiple stages. The company's board approved this capital-raising strategy during a meeting on Monday (May 27).
QIP involves issuing shares to eligible institutional buyers for fundraising, with specific details such as dates and pricing yet to be finalized.
The Ahmedabad-based firm will seek shareholder approval for the QIP at its Annual General Meeting scheduled for June 25, 2024.
This fundraising initiative aims to attract four to five major international investors interested in India's infrastructure expansion, as per a Bloomberg report.
Adani Group, known for its diverse interests from ports to power, has already secured nearly $6 billion in investments from prominent entities like Rajiv Jain’s GQG Partners LLC, Qatar Investment Authority, and TotalEnergies SE since January last year, reflecting its aggressive expansion plans.
Shares of Adani Energy Solutions closed unchanged at ₹1,104.70 each on the NSE today, with a 5% increase year-to-date.
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