Adani Enterprises to raise Rs 4,000 cr from securities issue

MUMBAI: Adani Enterprises, the flagship firm of the Adani Group, on Tuesday said it plans to raise up to Rs 4,000 crore through the issue of securities in global or domestic markets.

The company's board of directors gave its approval for the raising of funds at a meeting today, Adani Enterprises said in a filing to the Bombay Stock Exchange (BSE).

The board decided to create, offer, issue and allot securities from time-to-time in either one or more international or domestic offerings, it said.

The instruments for raising the funds include securities convertible into or exchangeable for equity shares including Global or American Depository Receipts and debentures or foreign currency convertible bonds.

The route for raising amount may be public issue, right issue, preferential issue, private placement or qualified institutional placement or any combination thereof, it added.

Ahmedabad-based Adani Enterprises is a diversified firm having interests in sectors like power generation, coal mining, oil and gas exploration, city gas distribution, real estate and agro.

Shares of Adani Enterprises settled at Rs 563.40, down by 0.32 per cent on the BSE at the close of the day's trading.