Adani Energy Approved to Boost Funds by Rs 12,500 Crore

AESL approved to raise Rs 12,500 crore through QIP, with specifics on dates and pricing to follow pending further approvals from regulators and shareholders.
Adani Energy Approved to Boost Funds by Rs 12,500 Crore

Adani Energy Solutions (AESL) secured board approval on Monday to raise Rs 12,500 crore through qualified institutional placement (QIP) or other methods. The funding, planned in one or more tranches, awaits further details like the QIP date and issue price, pending additional regulatory and shareholder approvals.

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AESL plans to present this fundraising strategy for shareholder approval at the annual general meeting scheduled for June 25. The move is part of a broader strategy to enhance financial agility and fund future expansions, as the exact terms of the issuance are still under consideration.

The Adani Group has successfully attracted nearly $6 billion in investments since last January from prominent investors including GQG Partners, Qatar Investment Authority, and Total Energies. This capital influx is intended to support aggressive growth across its various business sectors.

AESL, India’s largest private transmission entity, boasts a network spanning 17 states with over 20,509 circuit kilometers and 57,011 MVA transformation capacity. Its distribution sector, AEML, saw significant investment and debt reduction efforts this past year, reflecting a strong commitment to operational and financial health.

Despite a minor drop in share price to Rs 1104.70 on Monday, AESL reported operational growth with 1,244 circuit km added in FY24. However, its Q4FY24 profits fell by 13.26% to Rs 381.29 crore due to rising expenses, showcasing the challenges amidst expansion.

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