Adani Power plans to raise up to Rs 5,000 cr to fuel biz expansion, growth

12 July, 2018 4:37 PM

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Adani Power plans to raise up to Rs 5,000 cr to fuel biz expansion, growth

Adani Power plans to raise up to Rs 5,000 crore through a mix of debt and equity to augment capital to sustain growth and finance its business expansion plans.

The company proposes to have flexibility to infuse additional capital, to tap capital markets and to raise additional long term resources, if necessary in order to sustain growth in the business, for business expansion and to improve the financial leveraging strength of the company, Adani Power said in its annual report 2017-18.

Adani Power has sought approval from its shareholders to raise funds in one or more tranches.

Funds are planned to be raised by way of issuance of equity shares of the company and/or any instruments or securities including GDR/ADRs /convertible preference shares/ convertible debenture, non-convertible debentures and warrants etc.

Also read: Adani Capital to raise Rs 1,000 crore in growth capital in FY19

Source: moneycontrol.com

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