Adani Enterprises Ltd to raise funds worth Rs. 6000 crores

The Board of Directors of Adani Enterprises Ltd at its meeting held on May 04, 2016, has accorded approval for seeking approval of the shareholders at the ensuing Annual General Meeting to raise funds.

The Board approved proposal to raise funds by issue of Equity Shares / convertible Bonds through Qualified Institutional Placement [QIP] / GDR / ADR / FCCBs / FCEBs / Convertible Securities for an aggregate amount upto Rs. 6,000 Crores and to issue Secured / Unsecured Redeemable Non-Convertible Debentures on private placement basis within the overall borrowing limits of the Company.

In the period of next twelve months through private placement mode.

Shares of ADANI ENTERPRISES LTD. was last trading in BSE at Rs.79.25 as compared to the previous close of Rs. 85.85. The total number of shares traded during the day was 1581943 in over 8196 trades.

The stock hit an intraday high of Rs. 86.2 and intraday low of 78.5. The net turnover during the day was Rs. 127750665.

Source : Equity Bulls

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