Adani Enterprises Ltd to raise upto Rs. 12500 crores through QIP or other routes

The board of directors of Adani Enterprises Ltd (the "Board"), at its meeting held today, i.e. May 13, 2023, commenced at 12:50 p.m. and concluded at 1.20 p.m., has approved proposal for raising of funds by way of issuance of such number of equity shares having face value of Rs. 1 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. 12,500 crores (Rupees Twelve 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 and to seek approval of the shareholders for the aforesaid issuance and ancillary actions by way of postal ballot process.

Shares of Adani Enterprises Limited was last trading in BSE at Rs. 1984.60 as compared to the previous close of Rs. 1892.10. The total number of shares traded during the day was 438941 in over 22639 trades.

The stock hit an intraday high of Rs. 2013.50 and intraday low of 1916.65. The net turnover during the day was Rs. 866016215.00.

Source : Equity Bulls

Keywords

AdaniEnterprises INE423A01024 FundRaising QIP