Adani to raise $3.5 bn from share sale in three group cos
Billionaire Gautam Adani’s conglomerate is looking to raise about USD 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 USD 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 USD 1 billion in the next couple of weeks, sources aware of the matter said.
