New Delhi, May 13 (Hindustan Times). Businessman Gautam Adani’s Adani Group will raise around Rs 21,000 crore by selling shares of its two companies. This decision of Adani Group, which suffered huge losses after allegations of fraud by American financial research company Hindenburg Research, is considered very risky.
The Adani Group told the stock market on Saturday that it would raise around Rs 21,000 crore by selling shares of its two companies. Adani Enterprises Ltd plans to raise Rs 12,500 crore, while Adani Transmission, another company, will raise the remaining Rs 8,500 crore. Adani Group has termed all the allegations of Hindenburg as baseless.
The board of directors of the group’s renewable energy arm Adani Green Energy Ltd was also scheduled to meet today to raise funds, but the meeting has now been postponed to May 24. The fund raising will be through issue of shares to qualified institutional buyers. Sources with knowledge of the matter said that there has been a lot of interest from investors in Europe and the Middle East.
