The company intends to use the proceeds from QIP for capital expenditure, repayment of loans and future acquisition.
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Dado Ruvic
Adani Energy Solution reported that its qualified institutional placement to raise ₹3,500 crore was oversubscribed three times as it closed on Tuesday. It received investment interest of ₹10,800 crore with strong participation from mutual funds and insurance companies. The issue had no green shoe option.The company will issue about 21.7 million equity shares at the base issue size. The QIP, priced at ₹1,615 a piece, opened for subscription on Monday. The floor price as per SEBI formula was at ₹1,698.15 per share. The company has offered a discount of 5.18 per cent to the Monday’s closing prices of ₹1,703.The company intends to use the proceeds from QIP for capital expenditure, repayment of loans and future acquisition.On Tuesday, shares of Adani Energy Solutions dropped three per cent to ₹1,650.The book running lead managers to the issue include Jefferies, SBI Capital Markets, ICICI Securities and IIFL Securities.The company has board approval to raise up to ₹10,000 crore through the QIP route. Shareholders approved the special resolution at an Extra-Ordinary General Meeting last Saturday.Earlier, the company announced that it has signed a binding securities purchase and subscription agreement to acquire IntelliSmart Infrastructure, a smart metering joint venture between NIIF and EESL, for ₹3,050 crore. The acquisition will strengthen Adani Energy Solutions’ position as India’s largest smart metering platform, with over 4.7 crore smart meters under management.In the June quarter, Adani Energy Solutions reported a 124 per cent year-on-year jump in consolidated net profit to ₹1,149 crore from ₹512 crore a year earlier. Revenue from operations increased 42 per cent to ₹9,711 crore from ₹6,819 crore, while EBITDA rose 30 per cent to ₹3,008 crore from ₹2,314 crore.Published on July 28, 2026
