By Hormaz Fatakia
CNBC-TV18.com
Published May 28, 2024
Adani Enterprises approved raising funds up to ₹16,600 crore on Tuesday.
The company plans to raise ₹16,600 crore via QIP and other permissible methods.
Another group company, Adani Energy Solutions, approved raising up to ₹12,500 crore on Monday.
Adani Energy Solutions also plans to raise funds via QIP and other methods.
In 2023, Adani Enterprises planned India’s largest FPO, aiming to raise ₹20,000 crore.
The FPO was called off following the release of the Hindenburg report and a subsequent fall in stock price.
Shares of Adani Enterprises recently recovered all the losses incurred during the Hindenburg saga.
Adani Enterprises reported a 38% drop in profit in Q4 due to a one-time loss.
So far in 2024, shares of Adani Enterprises are up by 13%.
Shares of Adani Energy Solutions have risen by 4% so far in 2024.