Shares of almost all companies of the Adani group declined on Monday after boards of two firms approved proposals to raise as much as $2.6 billion, with market watchers flagging concerns about potential equity dilution.
Adani Enterprises slid 2.5 per cent on the day after the firm got a nod to raise as much as ~12,500 crore via a qualified institutional placement or other modes, according to an exchange filing on Saturday.
Adani Transmission, meanwhile, can seek up to ~8,500 crore via similar methods, the utility said separately. The stock, which slumped last week amid global index provider MSCI’s move to exclude it from an India gauge, lost over 5 per cent to hit the lower circuit.
