Adani group will raise Rs 21,000 crore by selling shares of two companies
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Adani Group’s flagship firm Adani Enterprises Ltd plans to raise Rs 12,500 crore, while another company Adani Transmission will raise the remaining Rs 8,500 crore, two Adani group companies told the stock market.
New Delhi. Billionaire businessman Gautam Adani’s group will raise around Rs 21,000 crore by selling shares of two of its companies. This is considered a very risky decision by the conglomerate which has suffered heavy losses after allegations of fraud by US short seller Hindenburg. Adani Group has termed all the allegations of Hindenburg as baseless. Adani Group’s flagship firm Adani Enterprises Ltd plans to raise Rs 12,500 crore, while another company Adani Transmission will raise the remaining Rs 8,500 crore, two Adani group companies told the stock market.
The board of directors of Adani Green Energy Ltd, the group’s renewable energy arm, was also scheduled to meet on Saturday to raise funds but the meeting has now been postponed to May 24. The fund raising will be by way of issue of shares to qualified institutional buyers. Sources with knowledge of the matter said that there has been a lot of interest from investors in Europe and the Middle East.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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