Adani Enterprises secures $500 million for expansion

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Adani Enterprises secures $500 million for expansion

Adani Enterprises has raised $500 million via a Qualified Institutional Placement (QIP) to bolster its growth strategy. The issue was launched on October 9, 2024, and concluded on October 15, 2024, with a strong investor response, receiving bids about 4.2 times the deal size. The company allocated 14.18 million shares at ₹2,962 each. The funds will be used for capital expenditure, debt repayment, and general corporate purposes.

QIP has attracted a range of investors including global institutional investors, mutual funds and insurance companies, reflecting Adani Enterprises’ strong confidence in the future that capital investment will be helpful for the expansion of its core infrastructure sectors, such as transportation, logistics, renewable energy and data centers . Adani’s business portfolio includes projects in areas such as solar and wind power, airports and import substitution projects. The transaction was led by SBI Capital Markets, Jefferies India and ICICI Securities, while Cantor Fitzgerald & Co. was responsible for the transaction. acted as consultants.

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