Adani Ent, Adani Energy Solutions to consider fundraising next week

A year ago, Adani Enterprises and Adani Energy Solutions had sought board and shareholder approval for a similar proposal of raising up to Rs 12,500 crore and Rs 8,500 crore, respectively

The board of directors of two Adani group companies —Adani Enterprises and Adani Energy Solutions — are scheduled to meet this week to consider proposals on fundraising.

Adani Energy Solutions, in a notice to BSE last week, said its board will meet on Monday to consider and approve the fundraise proposal.

The company noted that this raise could be by way of issuance of equity shares or any other eligible securities through permissible modes. The modes include private placement, qualified institutional placement, preferential issue, or any other method or combination of methods.

In a separate notice, Adani Enterprises last week also announced that the company’s board of directors will meet on Tuesday to consider and approve the proposal of raising funds by way of equity shares or any other eligible securities.

The proposal, likely to be discussed at the upcoming board meetings for both companies, is subject to regulatory/statutory approvals and the approval of shareholders of the two companies.

A year ago, Adani Enterprises and Adani Energy Solutions had sought board and shareholder approvals for a similar proposal of raising up to Rs 12,500 crore and Rs 8,500 crore, respectively.