By IANS
New Delhi : Diversified business interest group Adani Enterprises Ltd will raise Rs.30 billion ($764 million) in equity and equity-linked instruments to finance its energy businesses, the company said in a statement Tuesday.
The firm plans to raise the required funds through qualified institutional placements (QIP) and expects to complete the process by March.
“The board of directors of the company at its meeting held on Jan 4 had approved raising of equity and equity-linked instruments up to a value of Rs.30 billion as QIP,” Adani Enterprises informed the Bombay Stock Exchange Tuesday.
“The company intends to complete the process during the first quarter of 2008 in consultation with its issue managers,” the company said.
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