Moneycontrol PRO
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now

Adani Enterprises board to consider raising funds today

In a statement to the stock exchanges, Adani Group's flagship firm said that raising funds would be by the way of a public offering or preferential allotment issue, including a QIP.

November 25, 2022 / 07:42 AM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Adani Enterprises on November 22 said that the board of the company will meet on Friday, 25 November 2022, to consider and approve the proposal for raising funds.

In a statement to the stock exchanges, Adani Group's flagship firm said that raising funds would be by the way of a public offering or preferential allotment issue, including a QIP.

"A meeting of the board of directors of Adani Enterprises Limited will be held on Friday, 25th November 2022 at Ahmedabad to consider and approve the proposal of raising of funds by way of further public offering, preferential allotment (including a qualified institutions placement or through any other permissible mode) and/or combination thereof as may be considered appropriate, by way of issue of equity shares or any other eligible securities," the company said.

News agency Bloomberg, citing sources, reported that the company is "considering issuing at least $1.8 billion in new shares".

Earlier this month, Adani Enterprises reported a consolidated profit of Rs 461 crore for the September quarter, a jump of 117 percent year-on-year (YoY) against Rs 202 crore in the corresponding quarter last year.

The ports-to-power conglomerate has laid out a mega investment plan of up to $70 billion in the next 10 years to build and acquire renewable assets.
Moneycontrol News
first published: Nov 23, 2022 07:51 am