 "Adani Enterprises, Adani group")
Top executives from Adani Enterprises told analysts last week that the company plans to raise funds through the qualified institutional placement (QIP) route at the earliest to fund its green hydrogen plans.
"We are looking to fast-track our green hydrogen. So, we are looking to have the QIP done at the earliest," said Saurabh Shah, deputy chief financial officer (CFO) for the company. He added that capex plans for airports, roads, data centres, PVC, and copper business are fully funded.
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"So, except Adani New Industries, wherever there is the capex which goes on, but with Adani Industries already throwing up a sizable amount of cash with the new and new expansion that we do, we will have enough cash for the equity portion of it for at least another 1-2 years. And whatever the substantial portion of equity requirement that is there for Adani New Industries will be fulfilled through this QIP program," he informed analysts.
News agency Reuters in a separate report on Wednesday said the company is likely to launch a $1 billion share sale by mid-September, quoting three sources with direct knowledge of the matter.
On Monday, group company Adani Energy Solutions informed exchanges it has raised $1 billion via qualified institutional placement (QIP), with a demand of approximately six times from global long-only investors and domestic mutual funds.
In May, Shah had noted the company plans an Rs 80,000 crore capex in FY25, out of which a major part will be towards the new energy ecosystem and the airports business, which will take up about Rs 50,000 crore.
 "Adani Enterprises, Adani group")
 "Adani, Gautam Adani")
 "Adani, Gautam Adani")
 "Adani Enterprises, Adani group")
