Adani Transmission has acquired the nod of shareholders to raise Rs 8,500 crore by means of the issuance of fairness shares on a professional institutional placement foundation. According to the corporate’s BSE submitting, 98.64 per cent of shareholders voted in favour of the decision and allowed it to raise the funds.Â
The proposal acquired approval from the board of Adani Transmission on 13 May. The firm had sought shareholders’ approval by means of a postal poll to raise up to Rs 8,500 crore by means of certified institutional placement by means of the issuance of fairness shares and/or different eligible securities to eligible buyers on May 15, 2023.
Adani Transmission had earlier stated it anticipates progress alternatives in its current operations and continues to consider numerous avenues for natural growth and reaching inorganic progress. Towards this, the corporate continues to require capital for reaching such progress and growth.
(With PTI inputs)
