Adani Enterprises shareholders approve raising up to Rs 6k cr

Adani Enterprises, the flagship firm of the Adani Group, today said its shareholders have approved the proposal to raise up to Rs 6,000 crore through issuance of securities to sustain rapid business growth.
In a BSE filing, the Gautam Adani-led firm said its shareholders have approved the "offer or invitation to subscribe to securities for an amount not exceeding Rs 6,000 crore."
The company shareholders also approved the proposal to raise funds through "offer or invitation to subscribe to non convertible debentures on private placement basis."
On raising Rs 6,000 crore, Adani Enterprises had said "The company proposes to have flexibility to infuse additional capital, to tap capital markets and to raise additional long-term resources, if necessary in order to sustain rapid growth in the business, for business expansion and to improve the financial leveraging strength."

Shares of the company today fell by 4.70 per cent to settle at Rs 88.25 apiece on the BSE.