Adani Transmission to raise up to ₹8,500 crore after green light by shareholders

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Adani Transmission has received the nod of shareholders to raise ₹8,500 crore through the issuance of equity shares on a qualified institutional placement basis, news agency PTI reported on Monday. The company said that 98.64% of shareholders voted in favour of the resolution and allowed it to raise the funds. The raised capital will be used for the desired growth and expansion of the company.

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Adani Transmission has received the nod of shareholders to raise ₹8,500 crore through the issuance of equity shares on a qualified institutional placement basis, news agency PTI reported on Monday. The company said that 98.64% of shareholders voted in favour of the resolution and allowed it to raise the funds. The raised capital will be used for the desired growth and expansion of the company.

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The proposal received approval from the board of Adani Transmission on 13 May after which on 15 May, the company sought shareholders\' approval through postal ballot.

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The proposal received approval from the board of Adani Transmission on 13 May after which on 15 May, the company sought shareholders\' approval through postal ballot.

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“On the basis of the report received from CS Chirag Shah, Scrutinizer, I hereby declare the result of the postal ballot voting process for the above-mentioned proposal as annexed herewith. Since, 98.64%, votes are polled in favour of the said Resolution, I hereby declare the resolution carried as a Special Resolution as mentioned in the notice dated 13th May, 2023 with requisite majority,\" Adani Transmission said in a press release.

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“On the basis of the report received from CS Chirag Shah, Scrutinizer, I hereby declare the result of the postal ballot voting process for the above-mentioned proposal as annexed herewith. Since, 98.64%, votes are polled in favour of the said Resolution, I hereby declare the resolution carried as a Special Resolution as mentioned in the notice dated 13th May, 2023 with requisite majority,\" Adani Transmission said in a press release.

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Adani Transmission previously expressed its expectation of encountering favorable prospects in its current undertakings and maintains a constant assessment of different pathways to achieve expansion through both organic means and inorganic methods. To accomplish these objectives, the company still necessitates capital to facilitate the desired growth and expansion.

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Adani Transmission previously expressed its expectation of encountering favorable prospects in its current undertakings and maintains a constant assessment of different pathways to achieve expansion through both organic means and inorganic methods. To accomplish these objectives, the company still necessitates capital to facilitate the desired growth and expansion.

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The development comes as the shares of Adani Transmission saw an uptick on Monday over the positive reports on its Mumbai power project. Apart from Adani Transmission, all other stocks of Adani Enterprises were trading in red today.

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The development comes as the shares of Adani Transmission saw an uptick on Monday over the positive reports on its Mumbai power project. Apart from Adani Transmission, all other stocks of Adani Enterprises were trading in red today.

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Adani Group is witnessed some recovery from the sharp swings it went through in the aftermath of Hindenburg report.

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Adani Group is witnessed some recovery from the sharp swings it went through in the aftermath of Hindenburg report.

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