Adani Energy Solutions Limited (“AESL”), today said it has successfully completed its INR 8,373 crores (USD 1 billion) Qualified Institutional Placement (“QIP”), the largest in India’s power sector. This milestone underscores AESL’s prominent position as a leader in India’s energy transition solutions and highlights investors’ confidence in the country’s power sector outlook.
This QIP marks AESL’s first equity raise in the capital market since its demerger and listing from Adani Enterprises Limited (“AEL”) in July 2015. AESL’s consistent double-digit EBITDA growth since 2016 is a testament to the successful incubation model of AEL.
The transaction was launched post-market hours on 30 July 2024 with a base deal size of INR 5,861 crore (USD 700 million) and included a green shoe option to size up to INR 8,373 crore (USD 1 billion).
The QIP saw overwhelming demand, receiving bids of approximately 6x of the base deal size from a diverse group of investors, including utility-focused US investors entering India for the first time, sovereign wealth funds, major Indian mutual funds, and insurance companies. This strong interest enabled AESL to fully exercise the green shoe option, raising the total issue size to USD 1 billion.
AESL has emerged as a pivotal player in India’s energy transition solutions, duly focusing on key areas such as:
Also read: Adani Reveals $213 Billion Succession Strategy Amid Ongoing Scrutiny
“India’s robust investment cycle and rising power demand are positive indicators for the power sector. The strong interest from institutional investors reflects their commitment to and belief in India’s energy transition, in which AESL plays a pivotal role. AESL is revolutionizing the delivery of electricity to end consumers in a reliable, affordable, and sustainable manner, contributing significantly to India’s energy transition. The overwhelming response to our QIP reflects the strong confidence that investors have in our robust business model, execution capabilities, and effective capital allocation strategy, driving strong growth and exceptional shareholder value,” said Mr. Kandarp Patel, Chief Executive Officer of AESL.
Advisors and Managers:
Delhi Police arrested Balyan under MCOCA on December 4, the same day he received bail…
Punjab DGP Gaurav Yadav confirmed on Monday that those annihilated were operatives of Khalistan Zindabad…
The Bharatiya Janata Party (BJP) released an 'Aarop Patra' against Aam Aadmi Party (AAP) Chief…
Delhi High Court has issued a notice to Trinamool Congress Rajya Sabha MP Saket Gokhale…
A chilling triple murder unfolded in Morni Hills of Panchkula, three Delhi residents, including a…
ED officially entered the investigation into the high-profile case involving the seizure of 52 kilograms…