Share Market News: Adani Enterprises Plans to Raise $2 Bn Through QIP Investment

Gautam Adani News: Gautam Adani-led Adani Enterprises Limited is planning a big investment in the coming time. The company is planning to launch Qualified Institutional Placement (QIP) by the end of this month. According to the news, it is currently in talks with institutional investors such as the Abu Dhabi Investment Authority, the Qatar Investment Authority, and GQG to raise $2 billion. Through this QIP, the company will use the money collected for its new projects to reduce capital expenditure and some loans. 

Adani Enterprises QIPs

In July, Adani Energy Solutions collected $1 billion through QIP, which also received a six-fold subscription. In September, Adani Enterprises issued its first retail NCD and collected Rs 800 Cr. The company is currently planning to collect Rs 30,000 to 40,000 Cr from retail investors in the coming years. Meanwhile, the total debt of Adani Enterprises has increased by Rs 50,124 Cr compared to Rs 38,320 Cr in FY23. Along with this, the company’s cash and cash equivalents were also Rs 5,549 Cr in FY23, which has increased to Rs 8,523 crores in FY24.