New Delhi: Adani Transmission Shareholders’ approval has been received to raise up to Rs 8,500 crore by issue common share On the basis of eligible institutional placement.
The company had sought shareholders’ approval through postal ballot to raise up to Rs 8,500 crore through qualified institutional placement by way of issue of equity shares and/or other eligible securities to eligible investors on May 15, 2023.
According to the company’s BSE filing, 98.64 per cent votes were cast in favor of the proposal.
The company’s board had approved the proposal at a meeting on May 13, 2023.
Adani Transmission had earlier said that it anticipates growth opportunities in its existing operations and continues to evaluate various opportunities for organic expansion and achieving inorganic growth.
In this direction, the capital requirement for the company to achieve such growth and expansion remains.
The company had sought shareholders’ approval through postal ballot to raise up to Rs 8,500 crore through qualified institutional placement by way of issue of equity shares and/or other eligible securities to eligible investors on May 15, 2023.
According to the company’s BSE filing, 98.64 per cent votes were cast in favor of the proposal.
The company’s board had approved the proposal at a meeting on May 13, 2023.
Adani Transmission had earlier said that it anticipates growth opportunities in its existing operations and continues to evaluate various opportunities for organic expansion and achieving inorganic growth.
In this direction, the capital requirement for the company to achieve such growth and expansion remains.