Adani Enterprises board to consider fundraising on May 13

11 May 2023 , 03:01 AM

After 4 months of Hindenburg turmoil on Adani Group, Gautam Adani’s Adani Enterprises is looking to raise funds by tapping equity markets in a major test of investor confidence.

The flagship company of Adani conglomerate said in a statement on Wednesday that the company will hold board meeting on May 13 to consider stock selling. It said in a statement to exchanges filing, “..to consider and approve the proposal of raising of funds by way of issuance equity shares or any other eligible securities through permissible modes, including but not limited to a private placement, a qualified institutions placement, preferential issue, or any other method or combination of methods as may be permitted under applicable laws.”

However, the company did not disclose that how much money it is looking to raise.