On Tuesday, Adani Enterprises—headed by billionaire Gautam Adani—will talk about possible means of fundraising. The forthcoming board meeting on May 28 has been announced by the firm to the national stock exchanges. The discussion and approval of suggestions pertaining to fundraising is on the agenda for the meeting.
A meeting of the board of directors of Adani Enterprises Limited will be held on Tuesday, May 28, 2024 in Ahmedabad, among other things, to consider and approve the proposal of the raising of funds by way of issuance of equity shares or any other eligible securities through permissible modes," the company said in a filing to the bourse on May 23.
Adani Energy Solutions Ltd. said earlier on Monday that it will raise up to Rs 12,500 crore through qualified institutional placement (QIP) or another legal means.
Using non-convertible debentures (NCDs), Tata Steel, a company within the salt-to-software Tata Group, is likewise seeking to raise capital.
According to a Bloomberg story, the corporation wants to work with four or five significant foreign investors who are eager to support the nation's infrastructure development.
Since January of last year, the Adani Group has received about $6 billion from notable investors including TotalEnergies, Qatar Investment Authority, and Rajiv Jain's GQG Partners. The group plans to rapidly grow its company.
