Adani Green Energy Ltd. has cancelled its board meeting that was scheduled on Wednesday to consider a fundraise.
The meeting was cancelled due to non-availability of directors, it said in an exchange filing on Wednesday. "The next date of meeting will be informed with a fresh notice."
The renewable energy company has previously deferred the board meeting from May 12 to May 24 by citing "certain exigencies".
Adani Enterprises Ltd. and Adani Transmission Ltd. have approved a fundraising of Rs 12,500 crore and Rs 8,500 crore, respectively, via qualified institutional placement.
For the March quarter, Adani Green's net profit had jumped to Rs 507 crore in comparison with Rs 121 crore over the same period in the previous fiscal. Revenue surged 78% to Rs 2,598 crore in the fourth quarter.
The sale of energy has increased by 58% year-on-year to 14,880 million units in fiscal 2023 due to capacity addition and analytics-driven operations and maintenance, enabling high plant availability and the deployment of the latest renewable technologies, it said.
Shares of Adani Green closed 5% higher on Tuesday, as compared with a 0.18% gain in the benchmark NSE Nifty 50.
Disclaimer: AMG Media Networks Ltd., a subsidiary of Adani Enterprises Ltd., holds 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
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