Two Adani Group companies – Adani Enterprises and Adani Transmission on Saturday said they have received board approval to raise a total of Rs 21,000 crore through qualified institutional placement (QIP) route.
In separate filings to exchanges, Adani Enterprises said it would raise Rs 12,500 crore, and Adani Transmission informed that it is planning to raise Rs 8,500 crore by way of QIP or other permissible mode.
QIP is a process through which listed companies raise capital by issuing equities to qualified institutional buyers on a private placement basis.
