Adani Transmission’s board approves plan to raise up to $1 billion


NEW DELHI: Adani transmission said its board on Saturday approved a plan to raise up to 85 billion rupees ($1.0 billion) from the market.
The fundraising plan of one of the Adani Group companies comes months after a report by a US-based short seller Hindenburg group That has shaken investor confidence and pushed the group’s stock prices down.
Adani has denied all allegations, although the Indian market regulator is also investigating Hindenburg’s allegations Adani the Group’s related party relationships pursuant to a Supreme Court order.
Adani Transmission said in a statement that it intends to raise the funds by selling shares through qualifying institutional placements or other permitted means.

Source link


Please enter your comment!
Please enter your name here

Share post:




More like this

How to Change Careers: A Step-by-Step Guide

Changing careers...

RBI draws up plan to make non-bank e-payments safer

MUMBAI: Have you ever downloaded an app that...

Competition concerns in the age of AI

Henry Hauser is advice in Perkins Coieserves in...

The Best Paying Jobs In Consumer Services

Some professionals...