Adani Transmission Ltd to raise Rs. 8500 crores through issue of equity shares

The board of directors of Adani Transmission Ltd (the "Board"), at its meeting held on May 13, 2023, commenced at 12:00 noon and concluded at 12.45 p.m., has approved proposal for raising of funds by way of issuance of such number of equity shares having face value of Rs. 10 each of the Company ("Equity Shares") and / or other eligible securities or any combination thereof (hereinafter referred to as "Securities"), for an aggregate amount not exceeding Rs. 8,500 Crores (Rupees Eight Thousand Five Hundred Crores only) or an equivalent amount thereof by way of Qualified Institutional Placement ("QIP") or other permissible mode in accordance with the applicable laws, subject to the receipt of the necessary approvals including the approval of the members of the Company and other regulatory / statutory approvals, as may be required.

The board approved proposal to seek approval of the shareholders for the aforesaid issuance and ancillary actions by way of postal ballot process.

Shares of Adani Transmission Limited was last trading in BSE at Rs. 917.00 as compared to the previous close of Rs. 889.00. The total number of shares traded during the day was 43534 in over 3706 trades.

The stock hit an intraday high of Rs. 924.30 and intraday low of 882.05. The net turnover during the day was Rs. 39615152.00.

Source : Equity Bulls

Keywords

AdaniTransmission INE931S01010 FundRaising QIP