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.
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.
