Adani Green QIP: Adani Green, the energy company of Adani Group, is planning to raise Rs 12,300 crore from the market in the coming days. Adani Green Energy will raise capital through the QIP route by selling its shares. While the Adani Group is currently saddled with a huge debt burden, this capital will help it reduce its debt burden and boost investor confidence about the Adani Group.
Adani told the regulatory authority on July 6 that Adani Green Energy would raise Rs 12,300 crore through qualified institutional placement. Adani Group is planning to diversify into green energy in which this fund will help it.
Adani Green wants to attract more institutional investors and wants its company to be covered by more research analysts. After the release of the report against Adani Group by the American short seller on January 24, the value of the group has suffered a lot.
On July 6, Adani Green Energy’s stock rose by two per cent to Rs 973 in intra-day. After this, it increased by 0.88 percent and closed at 956. The renewable energy sector in India is considered to be one of the most attractive. Green energy is one of the five sectors that received the most foreign investment in India last year.
Other companies of Adani Group are also preparing to raise funds from the market. Rs 12,500 crore will be raised from the market by Adani Enterprises while Rs 8,500 crore will be raised by Adani Transmission. Shares of all 10 listed companies of Adani crashed after Hindenburg Research made serious allegations against the Adani Group, but have made a good recovery since then.
The Adani group has basically announced plans to raise Rs 21,000 crore from the market. This includes Adani Enterprises and Adani Transmission. After the Hindenburg Research report, a crisis-like situation has arisen for Adani, from which the group is trying to get out. Adani Group shares saw a mixed movement today, with Adani Enterprises closing marginally lower at 2397, while Adani Ports declined 0.38 per cent to close at 739. Shares of Adani Group’s power company closed at Rs 246, up 0.75 per cent.
