Reported 5 months ago
Adani Enterprises Ltd., part of Gautam Adani's conglomerate, has received board approval to raise $2 billion, while Adani Energy Solutions Ltd. has approval for $1.5 billion fundraising. These funds will be raised through methods like share sales, with approvals still needed from shareholders. This move signals an increase in capital spending by the Adani Group, which has raised $6 billion since January 2023 and is looking to expand aggressively after facing challenges from a short-seller attack last year. The conglomerate aims to broaden its shareholder base and strengthen its global presence by attracting international investors.
Source: YAHOO