Adani Energy to raise Rs 3,500 crore via a QIP with upsize option
technicohubservice
Mumbai: Adani Energy Solutions on Monday launched a qualified institutional placement (QIP) to raise ₹3,500 crore, with an option to upsize the issue depending on investor demand, according to the information on the exchanges.
The company has set an indicative issue price of ₹1,615 per share, a discount of 4.90% to the floor price of ₹1,698.15 and 5.18% to the closing market price of ₹1,703.30 on Monday. The company plans to issue 217 lakh shares.
The proceeds from the QIP are proposed to be utilised towards capital expenditure, repayment of existing borrowings, funding potential acquisitions, and for general corporate purposes.
