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NEW DELHI: Adani Group’s Board of Directors has approved to raise Rs 20,000 crore through issue of fresh shares.
In the Adani Group’s board meeting held yesterday, it has been reported that ‘Adani Enterprises’ has been given permission to raise funds. 72.63 percent shares of Adani Enterprises are held by its promoters. 20 percent shares are held by insurance companies and foreign investors.
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In this case, the share issue is expected to help diversify the shareholder base and create credibility among investors. Adani Enterprises’ share price has doubled in a year, taking its market capitalization to Rs 4.46 lakh crore.
The company said that while the approval of the management board has been received for raising funds, it is planning to seek the approval of its shareholders through postal ballot.
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