Adani Enterprises gets board nod to raise ₹16,600 crore via QIP

Adani Enterprises Limited on Tuesday, May 28, said it has received a green light from the board to raise ₹16,600 crore through qualified institutional placement (QIP) of shares or other modes in one or more tranches.

In a regulatory filing, the company said that it will receive shareholders' approval for a fundraising campaign at the ensuing annual general meeting on June 24.

The company said it has "approved raising of funds by way of issuance of such number of equity shares having face value of ₹1 each of the company or other eligible securities or any combination thereof, for an aggregate amount not exceeding ₹16,600 crore or an equivalent amount thereof by way of qualified institutional placement (QIP) or other permissible mode in one or more tranches".

Shares of the Gautam Adani-led company were trading at ₹3,284, down 0.14% on the NSE. Intraday, the stock hit a high of ₹3,329.

Adani Enterprises Q4 results

The company reported a 38.9% year-on-year (YoY) decline in its net profit in Q4 FY24 to ₹451 crore vs ₹735 crore in Q4 FY23.

The revenue from operations rose nearly 1% YoY to ₹29,180 crore in the latest March quarter.