Adani Enterprises to raise Rs 3000 Crores

Adani Enterprises Ltd has announced that the Board of Directors of the Company at its meeting held on January 04, 2008 has decided to issue, offer and allot equity shares or instruments convertible into Equity Shares ("Securities") up to the amount not exceeding Rs 3000 Crores (Rupees Three Thousand Crores only) in one or more tranche or tranches inclusive of such premium, to Qualified Institutional Buyers (as defined by the DIP Guidelines) pursuant to a Qualified Institutions Placement Guidelines (QIP), as provided under Chapter XIII-A of the DIP Guidelines.

The abovesaid issuance of securities shall be subject to the approval of Members of the Company and such other approvals as may be required.

Source : Equity Bulls

Keywords