Adani Enterprises (Adani Enterprises) on Tuesday announced that it will raise funds of Rs 16,600 crore in one or two times through Qualified Institutional Placement (QIP) and other legally appropriate means to aggressively expand its business. This plan to raise funds has been approved by the board of the flagship company of the Adani Group. In return, shares with a face value of one rupee will be issued by the company.
Information given to the stock market
In a regulatory filing by the company, it was said that the board has approved raising funds of Rs 16,600 crore. This fund will be raised through qualified institutional placement (QIP) and other means in one or more times. On Monday, Adani Energy Solutions, another company of Adani Group, said that the board has approved raising Rs 12,500 crore for QIP and other means. This fund will be raised in one or more rounds. Adani Group has raised about $ 6 billion from big investors since the beginning of last year.
Big jump in company’s profits
In the financial year 2024, the consolidated EBITDA of Adani Enterprises has registered a jump of 32 percent and stood at Rs 13,237 crore. At the same time, during this period, the profit before tax of the company has registered a jump of 56 percent and it has been Rs 5,640 crore. Earlier this month, the company said that the airport and roads business under Adani New Industries Limited (ANIL) is growing rapidly.
According to the information provided by the company, the contribution of these businesses to EBITDA in FY24 has increased to 45 per cent from 40 per cent in FY23. EBITDA of Rs 3,646 crore was reported by Adani Enterprises in the fourth quarter of FY24, up from Rs 3,974 crore in the same period a year ago.
Input: IANS
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