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Adani Energy Solutions Board Greenlights Rs 12,500 Crore QIP Fundraising

Adani Energy Solutions (AESL) has announced plans to raise Rs 12,500 crore through the issuance of equity shares with a face value of Rs 10 each. The decision was made during a board meeting held on May 27, 2024, as per an exchange filing. The funds will be raised through a Qualified Institutional Placement (QIP) […]

Adani Energy Solutions (AESL) has announced plans to raise Rs 12,500 crore through the issuance of equity shares with a face value of Rs 10 each. The decision was made during a board meeting held on May 27, 2024, as per an exchange filing.

The funds will be raised through a Qualified Institutional Placement (QIP) or other eligible securities, subject to necessary approvals including those from the company’s shareholders at the upcoming Annual General Meeting scheduled for June 25, 2024.

AESL is a leading private sector power transmission company in India with a goal to establish 30,000 circuit kilometres of transmission lines by 2030. Its distribution arm, Adani Electricity Mumbai Limited, is the largest private sector power distribution utility in India, catering to Mumbai’s electricity demand of nearly 2,000 MW.

The company also plans to expand its services beyond Mumbai and has entered the smart metering business to enhance operational and financial efficiencies for distribution companies. Leveraging its expertise in distribution, AESL aims to become an integrated solution platform.

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Adani Energy SolutionsQIP FundraisingTDGThe Daily Guardian