The issuing of equity shares on a qualified institutional placement basis might bring in up to Rs. 8,500 crore for Adani Transmission, and the company has received permission from its shareholders to proceed with the plan.
By means of a postal vote, the firm’s shareholders were asked for permission to proceed with a qualified institutional placement on May 15, 2023, which would include the issue of equity shares and/or other suitable securities to eligible investors. The business hoped to raise a maximum of Rs 8,500 crore.
98.64 percent of the votes cast supported the resolution, according to the report that the business filed with the BSE.
During a meeting held on May 13, 2023, the board of directors of the firm agreed to the plan.
Adani Transmission has said before that it anticipates growth prospects in its present operations and continues to analyse different avenues for organic development and achieving inorganic growth. In addition, Adani Transmission continues to assess various avenues for achieving growth via acquisition.
In order to do this, the firm will continue to need funds for the purpose of accomplishing such development and expansion.
