Adani Energy Solutions on Monday launched its qualified institutional placement (QIP) to raise funds from institutional investors, and fixed the floor price at Rs 1,698.15 per equity share for the issue.The company informed stock exchanges that its QIP Committee approved the opening of the issue on July 27 and adopted the preliminary placement document. The floor price has been determined in accordance with the pricing formula prescribed under Sebi rules.Under the rules, the company has the flexibility to offer a discount of up to 5% on the floor price while finalising the issue price. The floor price set by the company is 0.3% lower than today’s closing price of Rs 1,708 on the NSE.The issue price will be determined in consultation with the book-running lead managers. The company has also filed the preliminary placement document with the BSE and the National Stock Exchange.A qualified institutional placement allows listed companies to raise equity capital quickly from institutional investors such as mutual funds, insurance companies, pension funds and foreign institutional investors without undertaking a public offering.This comes after the company said earlier this month that its board approved raising of Rs 10,000 crore through a qualified institutional placement (QIP)."Raising of funds by way of issuance of such a 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 had said.Adani Energy share priceAdani Energy Solutions shares closed with marginal gains at Rs 1,703.30 apiece on Monday. The stock has fallen more than 1% in a week but gained over 13% in a month.The stock is up over 63% in 2026 so far. It has delivered a whopping 109% in a year, 112% in three years and 90% in five years.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)