Adani group hope to raise Rs 10,000 crore through share
Gautam Adani has been making big plans in order to get up a total of Rs 10,000 crore through an eligible institutional placement (QIP) of shares of the Adani Enterprises, Adani Power and Adani Ports & Special Economic Zone. He wants to do this so that the group’s growth rate gets a boost.
The money is going to be raised in the phases. The raising work will start in the last week of August with Adani Ports. This is hopefully going to hit the market first. The QIP would entail in raising Rs 5,000-6,000 crore in the Adani Enterprises while the rest of Rs 4,000-5,000 crore may be equally divided between the Adani Power and Adani Ports. The aforesaid was disclosed by four sources.
QIP has emerged as the preferable way for mostly all the listed well to do companies. Since the past two months, there has been a series of QIPs by the Indian companies. The Indian companies who have had these series of QIPs are Reliance Communications, Idea Cellular, GMR Infrastructure and JP Associates. This system that is being preferred by the companies is help in entailing the rise in their economic growth.
Source- The Economic Times
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