Billionaire Gautam Adani’s conglomerate is looking to raise about $3 billion through an equity share sale to institutional investors in the boldest comeback strategy after the ports-to-energy group was hit by a damning report of a US short seller.
While boards of Adani Enterprises Ltd – the group’s flagship firm – and electricity transmission company Adani Transmission Ltd have already approved raising up to Rs 21,000 crore (over $2.5 billion) through share sales to qualified institutional investors, the board of Adani Green Energy Ltd is likely to do so for raising up to $1 billion in the next couple of weeks, sources aware of the matter said.
