Adani Energy Solutions has successfully launched a Qualified Institutional Placement (QIP) aiming to raise Rs 8,373 crore, receiving bids nearly five times the offer amount from both domestic and global investors. The QIP issue was highly anticipated due to strong investor demand, amounting to nearly $5 billion.
The company’s board approved the QIP on July 30, setting a floor price at Rs 1,027.11 per share. This move attracted significant attention from major investment entities, emphasising the strong market confidence in Adani Energy Solutions’ growth prospects.
Domestic participants in the QIP included prominent mutual funds such as SBI, HDFC, Tata, White Oak, and Axis. Internationally, the offering drew attention from heavyweight investors like GQG Partners, Qatar Investment Authority, Duquesne Capital, and Genesis, adding a global dimension to the investor base.
Additional international firms such as Nomura Singapore, Eastspring Investments, Millennium Management, and Citadel also took part in the issue. GQG Partners, already holding a 4.5 percent stake as of June 30, reinforced their investment, highlighting continued confidence in Adani’s strategic direction.
The capital raised from the QIP will fund crucial capital expenditures, including the development of transmission systems and the installation of smart metres, alongside repaying existing debts. This financial injection is also earmarked for supporting the infrastructure projects of various subsidiaries.
