Adani gets shareholders nod to raise Rs 4K cr via QIP

Adani Enterprises today said it has received approval from its shareholders for upsizing the amount to be raised through share sale to qualified institutional buyers (QIBs) to Rs 4,000 crore from Rs 1,500 crore which was planned earlier.

The members of the company have given their approval for enhancing the present limit of issue of shares or instruments convertible into shares to QIBs to the overall amount up to Rs 4,000 crore, Adani Enterprises said in a filing to the Bombay Stock Exchange (BSE).

On June 18 this year, shareholders had given their approval for issue of shares or instruments convertible into equity shares to the QIBs for an amount not exceeding Rs 1,500 crore.

In today's shareholders meet, the company also received approval from the issue of bonus shares in the ratio of one new equity share for every one stock held by investors, it said.

Shares of Adani Enterprises closed at Rs 810.60, down by 1.36 per cent from its previous close in the BSE.