Team Blitz India
NEW DELHI: Billionaire Gautam Adani’s group will raise Rs 21,000 crore (over USD 2.5 billion) through share sale in two group companies in the boldest comeback strategy after the ports-to-energy conglomerate was rocked by allegations of fraud levelled by a US short-seller.
Adani Enterprises Ltd, the group’s flagship firm, plans to raise Rs 12,500 crore while electricity transmission company Adani Transmission another Rs 8,500 crore, the companies said in stock exchange filings.
The board of renewable energy arm, Adani Green Energy Ltd too was scheduled to meet on Saturday for a fundraise but the meeting was postponed to May 24.
The fundraise will be through issue of shares to qualified institutional buyers, media reports said on May 13.
Sources aware of the matter said investors in Europe and the Middle East have evinced strong interest.
