Big news regarding Adani Energy Solutions, plan to raise money put forward
Adani Energy Solutions is working on a plan to raise about Rs 3000 crore through bonds. Rohit Soni, Chief Financial Officer of Adani Energy Solutions, earlier known as Adani Transmission, has given this information in a discussion with investors. In May this year, the company’s board also approved the plan to raise Rs 8500 crore by issuing equity. The stock of Adani Energy Solutions closed at Rs 759 with a decline of more than 1 per cent in the last trading session.
What information has the CFO given?
While discussing with the investors, the CFO said that the company is trying to raise $360 million i.e. about Rs 3000 crore through bonds. He informed that the paperwork for this process is going on. Along with this, he also presented a plan to raise 100 crore dollars i.e. about Rs 8300 crore before the investors. The CFO said that we are trying to raise one billion dollars. In May this year, the board had approved raising Rs 8500 crore by issuing equity through QIP or any other approved route.
what does the company do
AESL, an Adani Group company, works in power transmission, distribution and cooling solutions. The company is the largest power transmission company in the country. Whose operations are spread in 16 states and the total transmission network is 19800 circuit kilometers. And transformation capacity is 53000 MVA. After the Hindenburg report, there was a sharp fall in the stock and it fell from the level of 2500 to below the level of 700. The stock has been trading below the 800 level in the last one month.
