Adani Green board to mull fund raising on 26 Aug

Adani Green Energy after market hours on Monday announced that its board will meet on 26 August 2021 to consider raising upto $75,00,00,000 on a private placement basis.

The company is planning to raise funds or borrow monies by offer, issue and allotment of securities including any senior secured or unsecured, senior or subordinated non-convertible debentures or any other permissible debt securities or by way of external commercial borrowings, whether denominated in Indian rupee and/or foreign currency (Securities), which may be issued in one or more tranches, in India or overseas, and that may be listed in any one or more stock exchanges in India or overseas, provided that the total amount does not exceed $75,00,00,000 or its equivalent in any currency(ies), on a private placement basis or otherwise, subject to applicable laws.

Shares of Adani Green were up 0.48% at Rs 935 on BSE.

AGEL has one of the largest global renewable portfolios with 15 GW (giga-watts) of operating, under-construction and awarded projects catering to investment-grade counterparties. The company's consolidated net profit soared 895.45% to Rs 219 crore on a 22.89% jump in total income to Rs 1,079 crore in Q1 FY22 over Q1 FY21.

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