Adani Green to consider fundraise on July 6
renewable energy company, Adani Green will consider approving fundraising on July 6. In a BSE filing, Adani Green informed, "A meeting of the board of directors of Adani Green Energy Limited (the “Company") will be held on Thursday, July 06, 2023, at Ahmedabad, inter alia, to consider and approve the proposal of the raising of funds by way of issuance equity shares or any other eligible securities through permissible modes, including but not limited to a private placement, a qualified institutions placement, preferential issue, or any other method or combination of methods as may be permitted under applicable laws".
In May, two board meetings were cancelled due to non-availability of directors. Yesterday, investment firm GQG Partners increased its shareholding in Adani Green and Adani Enterprises.
In Adani Green Energy, GQG bought 4.47 crore or 2.82% additional shares to take its holding to 10.35 crore shares or 6.54% of the total, the exchange filing showed. GQG Partners has been ramping up its investment in the conglomerate ever since Hindenburg Research's report, alleged accounting fraud and stock price manipulation at the group.
Adani Green has emerged as the largest and fastest-growing renewable energy player in India. Its green capacities have grown at 33% CAGR over the past five years, outpacing the industry average of 15%.
Currently, the size of its renewable energy portfolio stands at 20.4 GW (8.2 GW operational and another 12,2 GW under construction and near construction projects). It is targeting a 45 GW portfolio by 2030.
. Read more on livemint.com
