Adani Enterprises Announces Plans To Raise Rs 16,600 Crore For Expansion

Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, on Tuesday revealed its intention to raise Rs 16,600 crore through qualified institutional placement (QIP) or other permissible modes, signaling an aggressive expansion drive for its businesses.

The board of directors greenlit the decision at a recent meeting to issue a significant number of equity shares, each with a face value of Rs 1.

In a regulatory filing, the company stated, “The board has inter-alia approved raising of funds for an aggregate amount not exceeding Rs 16,600 crore or an equivalent amount thereof by way of qualified institutional placement (QIP) or other permissible mode in one or more tranches.”

This announcement follows closely on the heels of Adani Energy Solutions’ decision on Monday to seek funds of up to Rs 12,500 crore through similar means.

The Adani Group has been actively raising capital from top investors, amassing nearly $6 billion since the onset of last year.

Financially, AEL has shown robust performance, recording a 32 percent increase in consolidated EBITDA to Rs 13,237 crore in FY24.

Moreover, the profit before tax (PBT) surged by an impressive 56 percent, reaching Rs 5,640 crore.

The company’s emerging core infrastructure businesses, including Adani New Industries Ltd (ANIL) ecosystem, airports, and roads, have particularly shown significant operational growth.

AEL noted that the contribution of these sectors to the overall EBITDA escalated to 45 percent for FY24, up from 40 percent in the previous fiscal year.

However, for the fourth quarter (Q4) of FY24, AEL reported a slight dip in EBITDA at Rs 3,646 crore, compared to Rs 3,974 crore in Q4 FY23.

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