Adani Energy Solutions' board okays raising up to Rs 12,500 cr via equity shares

The board of Adani Energy Solutions on Monday approved a proposal to raise up to Rs 12,500 crore through qualified institutional placement of equity shares or other modes.

The company will seek the approval of the shareholders at the ensuing annual general meeting, which is scheduled to be held on June 25, 2024, according to a regulatory filing.

The board of directors has approved the raising of funds by way of issuance of such number of equity shares having a face value of Rs 10 each and/or other eligible securities or any combination thereof, for an aggregate amount not exceeding Rs 12,500 crore by way of qualified institutional placement or other permissible mode in accordance with the applicable laws, in one or more tranches, the filing said.