Adani To Raise $3.5 Billion Through Equity Share Sale

NEW DELHI: Gautam Adani’s Conglomerate is about to raise $3 billion through selling an equity share to the investors as a comeback strategy after the ports-to-energy group was hit by Hindenburg report.

Adani Green Energy to raise $1 billion

According to sources, Adani enterprises and Adani Transmission already approved of raising up to $2.5 billion through selling sales to institutional investors. Now, Adani Green Energy is also to raise upto $1 billion by doing so in the next few weeks.

Meeting for funding raising approval in June

Adani Enterprises and Adani Transmission took approval from boards and have sought for shareholder approval. Borad of Adani Green Energy may meet in first or second week of June for fundraising approval, the sources said.

Fundraising of $3.5 billion likely to complete in September

The Fundraising of $3.5 billion is likely to be completed in September quarter will go to fund the capital expenditure of the group. According to the sources the European and Middle East investors have shown a lot of interest.

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