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Two companies of Adani Group are going to raise Rs 21 thousand crore in the coming days. The group informed the stock exchanges on Saturday. This step of the Adani group is being considered very important, as this is Adani’s first attempt to raise funds after the Hindenburg Adani Report that came out at the beginning of the year.
The Hindenburg Report did damage
American short seller firm Hindenburg Research accused the Adani group of fraud in January. Hindenburg’s report came on January 24 and after that the Adani group had to suffer huge losses. After the report came, there was heavy selling in almost all the shares of Adani for about a month and due to this the group suffered a lot in market capitalization.
FPO had to be withdrawn
Hindenburg’s report came at a time when Adani Enterprises Limited, the flagship company of Adani Group, was coming up with its FPO during the month of February. At that time, the group had tried to raise Rs 20,000 crore from the Adani Enterprises Limited FPO, but due to the report, the group withdrew the FPO even after it was fully subscribed.
Board meeting of these two companies
After that, now the Adani group is again preparing to raise funds. Billionaire businessman Gautam Adani’s group is going to raise around Rs 21,000 crore by selling shares of his two companies. The two companies whose shares are set to be sold are the flagship company Adani Enterprises and Adani Transmission. Board meeting of both these companies was held today to approve the fund raising plan.
Fund raising plan of this company postponed
Adani Green Energy Limited, another company of Adani Group, will also announce plans to raise funds soon. Earlier, the board meeting of Adani Green was also scheduled to be held today i.e. on May 13 itself, but later it was postponed. Adani Green Energy has told the stock markets that due to some unforeseen reasons, the board meeting to be held on May 13 has been postponed. This meeting was going to be held to discuss the proposal related to raising funds by selling shares. The company has told that now its board meeting will be held on May 24.
Money will be raised from these investors
At the same time, Adani Enterprises and Adani Transmission informed the stock markets about the plan to raise funds after the board meeting. Adani Enterprises Limited plans to raise Rs 12,500 crore, while another company Adani Transmission will raise Rs 8,500 crore. In this way, the group is preparing to raise a total of Rs 21,000 crore. It is being told in some news that some investors from Europe and West Asia are showing great interest in this plan of Adani Group to raise funds by selling stake.
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