Mumbai: Adani Energy Solutions (AESL) said Wednesday its board has approved raising of ₹10,000 crore through a qualified institutional placement (QIP)."Raising of funds by way of issuance of such number of equity shares having face value of ₹10 each of the company...for an aggregate amount not exceeding ₹10,000 crore by way of Qualified Institutional Placement or other permissible mode," the company said.AESL has called an extraordinary general meeting on July 25 to seek members' approval for the issuance. It did not disclose how it plans to use the QIP proceeds.The company announced on June 24 that it has signed a binding agreement to acquire a 100% equity stake in IntelliSmart Infrastructure for a total consideration of ₹3,050 crore.AESL's scrip closed 2% higher at ₹1521.4 apiece on the BSE, outperforming a 0.58% rise in the benchmark Sensex.
Adani Energy plans Rs 10,000-crore QIP fundraise
Adani Energy Solutions has received board approval to raise a substantial ₹10,000 crore through a qualified institutional placement. This move follows their recent agreement to acquire IntelliSmart Infrastructure for ₹3,050 crore. Shareholders will vote on the issuance at an extraordinary general meeting on July 25. The company's stock saw a positive response, closing 2% higher on the BSE.
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