New Delhi: The Gautam Adani-led Adani Group plans to raise Rs. 20,000 crores in capital through a share sale. The management boards of the two companies in the group will meet on Saturday and take a decision in this regard.
The company has informed the stock market that the board meeting of Adani Enterprises will review and approve the raising of capital through a share sale.
Adani Green Energy Limited has also given similar information to the stock market. However, both companies have not disclosed how much capital they intend to raise specifically.
Sources said the group may aim to raise a maximum capital of Rs. 20,000 crores. It is known that investors from the Middle East and Europe have shown interest in investing more money.
Adani Enterprises Limited had tried to raise Rs. 20,000 crores through an FPO three months ago. Although bids were submitted for all the shares put up for sale through the FPO, the company suspended the process following a report by Hindenburg Research.
Adani denied all the allegations made by Hindenburg Research. Now the group is organising roadshows to win back the confidence of investors and the market by repaying loans early. Now the group will use the capital raised for business expansion.
