FILE PHOTO: FILE PHOTO: The logo of the Adani Group is seen on the facade of its Corporate House on the outskirts of Ahmedabad, India, November 21, 2024. REUTERS/Amit Dave/File Photo/File Photo
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Adani Enterprises Ltd on Thursday launched its ₹10,000-crore qualified institutional placement (QIP), setting a floor price of ₹3,034.68 per equity share for the issue, discount of 4.5 per cent from its Thursday’s closing price of ₹ 3,177.50, as the flagship Adani Group company looks to fund expansion projects, pare debt and pursue acquisitions.According to the preliminary placement document filed with the stock exchanges, the company plans to utilise the net proceeds to fund capital expenditure at subsidiaries, including setting up a polyvinyl chloride (PVC) plant and payment of the concession fee for the six-lane Chennai Outer Ring Road (CORR) tolling, operation, maintenance and transfer project.inorganic growthThe proceeds will also be used to repay or prepay outstanding borrowings of Adani Enterprises and its subsidiaries, including Mundra Solar PV Ltd, Adani Airport Holdings Ltd and Kutch Copper Ltd, besides funding inorganic growth through acquisitions and investments, and for general corporate purposes. For funding capital expenditure and debt repayment at subsidiaries, Adani Enterprises said it would make direct and/or indirect investments in these entities through equity or debt, in compliance with applicable regulations.The fundraising follows approvals from the company’s board on April 30, 2026, and shareholders through a special resolution passed on June 24, 2026, authorising the company to raise capital through the QIP route.Published on July 2, 2026
