Adani gets shareholders’ nod to raise Rs4,000 crore
November 27, 2009
Adani Enterprises Ltd on Friday said that it has received approval from its shareholders for upsizing the amount to be raised through share sale to qualified institutional buyers (QIBs) to Rs4,000 crore from Rs1,500 crore which was planned earlier, reports PTI.
The members of the company have given their approval for enhancing the present limit of issue of shares or instruments convertible into shares to QIBs to the overall amount up to Rs4,000 crore, Adani Enterprises said in a filing to the Bombay Stock Exchange (BSE).
On 18th June this year, shareholders had given their approval for issue of shares or instruments convertible into equity shares to the QIBs for an amount not exceeding Rs1,500 crore.
In today's shareholders meet, the company also received approval from the issue of bonus shares in the ratio of one new equity share for every one share held by investors, it said.
Shares of Adani Enterprises closed at Rs810.60 on the BSE, down by 1.4% from the previous close. –Yogesh Sapkale[email protected]