The Board of Directors of Adani Green Energy Limited on Thursday approved raising of funds through shares having face value of Rs 10 each or other eligible securities or through the way of qualified institutional placement (QIP), the company announced through an exchange filing. The raising of funds will be subject to the receipt of the necessary approvals including the approval of members of the company.
The funding will help ease concerns on the conglomerate's ability to pay the debt and help give investors some confidence.
Through the sale of shares through qualified institutional placement the company is looking to bring in more institutional investors and at the same time attract more research analysts to cover the firm.
Adani Green Energy
The shares of Adani Green Energy on Thursday touched intraday high of Rs 964.95 close to day end. But the shares closed at Rs 958, up by 1.03 per cent.
