The two companies have stated that the fundraising will be conducted by issuing shares and other eligible securities by way of QIP or other permissible modes.
Adani Enterprises and Adani Transmission on May 14 revealed plans to raise a cumulative Rs 21,000 crore through qualified institutional placements (QIP).
In regulatory filings to stock exchanges, Adani Enterprises informed that it would raise Rs 12,500 crore, while Adani Transmission aims to raise Rs 8,500 crore.
The two companies have stated that the fundraising will be carried out by issuing shares and other eligible securities by way of QIP or other permissible modes.
A January 24 report of the US-based short-seller Hindenburg Group battered the investor confidence in the Adani Group with allegations of sock manipulation and accounting fraud and drove share prices downhill.
The Indian conglomerate has, however, denied all allegations, even as the market regulator is probing Hindenburg’s allegations as well as Adani group’s related-party dealings following a Supreme Court directive.
Adani Green Energy, which was also expected to announce similar funding plans, on Friday rescheduled its board meeting to May 24.
A planned $2.5-billion share sale by Adani Enterprise too fell through in the wake of the scathing report.
With inputs from agencies
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