Adani Power, Adani Green seek shareholder nod for raising Rs 2,500 crore each

Mumbai: Billionaire Gautam Adani-led companies Adani PowerNSE 0.25 % and Adani Green EnergyNSE 4.99 % have sought shareholders approvals to raise up to Rs 2,500 crore each through issue of equity shares or any other instruments in one or more tranches, the two companies said in the respective annual reports for 2019-20.

“The company proposes to have flexibility to infuse additional capital, to tap capital markets and to raise additional long term resources, if necessary in order to sustain growth in the business, for business expansion and to improve the financial leveraging strength of the company,” Adani Power said in the notice to shareholders appended to the annual report. Adani Green gave the same rationale for the enabling resolution.