Adani Power seeks shareholders' nod to raise up to Rs 7,000 cr

Adani Power has sought shareholders' approval to raise up to Rs 7,000 crore through the issuance of equity shares, convertible debentures, bonds or any other securities in one or more currencies and in tranches in its annual general meeting on August 8.

"The company proposes to have flexibility to infuse additional capital, to tap capital markets and to raise additional long-term resources, if necessary in order to sustain growth in the business, for business expansion and to improve the financial leveraging strength of the company," it stated in its notice for AGM.

The special resolution also seeks to empower the board of directors to undertake a qualified institutional placement with qualified institutional buyers for raising the funds.