Adani Transmission, Adani Enterprises to raise funds through equity

Adani Transmission and Adani Enterprises Limited announced on Saturday that they plan to raise Rs 21000 crore through equity route. Adani Transmission said its board approved a plan to raise up to Rs 8,500 crore through the equity route. Adani Enterprises said in a filing to exchanges that its board has approved plans to raise up to Rs 12,500 crore.

Under QIP capital raising method, a publically traded firm can raise funds where it can issue equity shares, fully and partially convertible debentures, or any other security convertible into equity shares other than warrants. A QIP, unlike an IPO, is limited to institutions or qualified institutional buyers.. 

The group has been trying to win back market confidence with a series of investor roadshows, early debt repayments, and plans to scale back its pace of spending on new projects after US based short-seller Hindenburg report.