The board of directors of Adani Power Limited has approved raising up to Rs 150 billion through a qualified institutions placement (QIP) or any other permissible mode. The fundraise may be undertaken in one or more tranches through the issuance of equity shares or other eligible securities, subject to the necessary regulatory and shareholder approvals.
The board has also approved increasing the company’s borrowing limit from Rs 750 billion to Rs 1 trillion. The enhanced limit will enable the company to raise funds through loans, debt securities or other permitted instruments via private placement, public issue or other permissible modes, subject to the required approvals.