In a document, Adani Green said that during its board meeting on July 6, it will consider collecting money. While this was going on, in June, GQG Partners, an Australian company, and other investors invested an additional $1 billion in Adani enterprises like Adani Green and Adani Enterprises.
“Notice is hereby given that a meeting of the board of directors of Adani Green Energy Limited will be held on Thursday, July 6, 2023 at Ahmedabad, inter alia, to consider and approve the proposal of raising funds by way of issuance equity shares or any other eligible securities through permissible modes, ” Adani Green Energy Limited stated in a BSE filing.
Additionally, subject to any necessary regulatory or statutory approvals and shareholder approval, this may also include a private placement, a qualified institutions placement, a preferential issue, or any other method or combination of methods allowed by applicable laws.
While this was going on, in June, GQG Partners, an Australian company, and other investors invested an additional $1 billion in Adani enterprises like Adani Green and Adani Enterprises.
According to sources, through block agreements, investors purchased a 2.2% stake, consisting of 35.2 million shares in Adani Green Energy, as well as a 1.6% stake, consisting of 18 million shares in Adani Enterprises.
Since the Adani conglomerate’s shares plunged as a result of Hindenburg Research’s damning research accusing the organisation of stock manipulation, accounting fraud, and other financial wrongdoing, Rajiv Jain-led GQG Partners have been aggressively investing in it. The Adani companies lost $147 billion as a result of the subsequent stock crash.
On Tuesday, the price of Adani Green Energy’s stock traded marginally higher. The stock was last seen 0.27 percent higher than its previous finish of Rs. 941.90 at Rs. 944.45. At this price, the counter generated Rs 79.03 lakh in turnover, demanding a Rs 1,49,532.67 crore market capitalization (m-cap).