Adani Enterprises Limited to raise funds through QIP

The Board of Directors of Adani Enterprises Limited (the "Board"), at its meeting held today, i.e. 28th May, 2024, commenced at 10:30 a.m. and concluded at 11:00 a.m., has approved raising of funds by way of issuance of such number of equity shares having face value of ₹ 1 each of the Company and / or other eligible securities or any combination thereof (hereinafter referred to as "Securities"), for an aggregate amount not exceeding ₹ 16,600 crore or an equivalent amount thereof by way of qualified institutional placement ("QIP") or other permissible mode in one or more tranches and in accordance with the applicable laws, subject to the receipt of the necessary approvals including approval of the members at the ensuing Annual General Meeting of the Company scheduled to be held on Monday, 24th June, 2024 and other regulatory / statutory approvals, as may be required.

Shares of Adani Enterprises Limited was last trading in BSE at Rs. 3288.10 as compared to the previous close of Rs. 3384.65. The total number of shares traded during the day was 127720 in over 10572 trades.

The stock hit an intraday high of Rs. 3364.95 and intraday low of 3267.95. The net turnover during the day was Rs. 422568426.00.

Source : Equity Bulls

Keywords

AdaniEnterprises INE423A01024 FundRaising QIP