Adani Enterprises board to mull equity issue on Nov.25

Adani Enterprises said that its board will meet on Friday, 25 November 2022, to consider and approve the proposal of raising of funds by way of equity issue.

The funds would be raised by way of further public offering, preferential allotment (including a qualified institutions placement or through any other permissible mode) and/or combination thereof as may be considered appropriate, by way of issue of equity shares or any other eligible securities, subject to all such regulatory / statutory approvals as may be required including the approval of shareholders of the company.

Adani Enterprises (AEL) is the flagship company of Adani Group, one of India's largest business conglomerates. The company's business investments are centred on the fields of airport management, technology parks, roads, data centre and water infrastructure.

The company's consolidated net profit zoomed 117% to Rs 460.94 crore in Q2 FY23 as against Rs 212.41 crore posted in Q2 FY22. Net sales surged 188.8% to Rs 38,175.23 crore in Q2 FY23 from Rs 13,218.02 crore recorded in the corresponding quarter previous year.

The scrip rose 0.53% to currently trade at Rs 4057 on the BSE.

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