Adani Enterprises to consider equity fundraising plan on May 13

Adani projects A board meeting will be held on May 13 to consider raising new funds through the sale of shares. This could be a test of investor confidence as it comes after months of allegations made by Hindenberg Research.

“It is hereby stated that a meeting of the Board of Directors of Adani Enterprises Limited will be held on Saturday, 13th May 2023 in Ahmedabad, among other things, to consider and approve a proposal to raise funds by issuing shares or any stock exchange,” said Adani Enterprises in a stock exchange.

The company did not disclose how much it plans to raise or the exact status of the stock sale.

In March, S-based global equity investment firm GQG Partners invested Rs. 15,446 crore in four Adani group companies – Adani Ports and SEZ, Adani Green Energy, Adani Transmission and Adani Enterprises – through secondary market transactions.