Adani Ent board OKs raising Rs 800-cr via NCDs

Adani Enterprises announced that its board has approved issuance of non-convertible debentures (NCDs) of face value of Rs 1,000 each upto Rs 400 crore with an option to retain over-subscription upto Rs 400 crore, aggregating upto Rs 800 crore.

Earlier, on 4 August 2022, the companys board approved at its meeting held on to the management committee, to undertake a public issuance of non-convertible debentures of face value of Rs 1,000 up to maximum limit of Rs 1000 crore.

The management committee of Adani Enterprises on 16 August 2024 approved and adopted the draft prospectus for public issuance of NCDs, aggregating up to Rs 800 crore of the company in connection with the issue.

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 companys consolidated net profit zoomed 115.82% to Rs 1454.50 crore in Q1 FY25 as against Rs 673.93 crore reported in Q1 FY24. Revenue from operations grew by 12.49% YoY to Rs 25,472.40 crore in June 2024 quarter.

The scrip rose 2.26% to close at Rs 3,108.05 on Friday, 16 August 2024.

Powered by Capital Market - Live News