Adani Power jumps as board to mull Rs 5,000-cr NCD plan

Adani Power gained 2.17% to Rs 600.30 after the company said that its board is scheduled to meet on 28 October 2024 to consider raising of funds worth Rs 5,000 crore by way of public issue and/or private placement of non-convertible debentures (NCD).

The issue will be done in one or more tranches, in accordance with applicable law and subject to receipt of requisite regulatory and other approvals.

Adani Power, a part of the diversified Adani Group, is the largest private thermal power producer in India.

The company has reported 55.33% fall in consolidated net profit to Rs 3,912.79 crore in Q1 FY25 as compared to Rs 8,759.42 crore recorded in Q1 FY24. However, revenue from operations jumped 35.89% YoY to Rs 14,955.63 crore in the quarter ended 30 June 2024.

 

Powered by Capital Market - Live News