Adani Energy Solutions Approves Rs 12,500-Crore Fund Raise
The fund raise will be through qualified institutional placement.
The board of Adani Energy Solutions Ltd. approved fund raise of Rs 12,500 crore through qualified institutional placement or other permissible modes on May 27.
The fund raise is subject to the approval of the shareholders at the upcoming Annual General Meeting, according to its exchange filing on Monday.
Adani Energy Solutions Ltd.'s net profit increased 9.48% in the fourth quarter of fiscal 2024.
The company's net profit rose to Rs 381.29 crore in the quarter-ended March, in comparison with Rs 348.25 crore in the previous quarter, according to an exchange filing.
Adani Energy Solutions Q4 FY24 Highlights (Consolidated, QoQ)
Net profit up 9.48% at Rs 381.29 crore vs Rs 348.25 crore.
Revenue up 3.15% at Rs 4,706.85 crore vs Rs 4,562.73 crore.
Ebitda up 2.49% at Rs 1,565.52 crore vs Rs 1,527.35 crore.
Ebitda margin contracts 21 bps to 33.26% vs 33.47%.
Adani Enterprises Ltd., the flagship company of billionaire Gautam Adani, will consider raising funds on Tuesday.
The company informed the exchanges that the meeting of the board of directors is scheduled for May 28 to consider and approve the proposal to raise funds.
Shares of Adani Energy Solutions closed 0.17% lower at Rs 1104.00 apiece, compared to a 0.03% fall in the benchmark BSE Sensex.
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