Billionaire Gautam Adani's flagship, Adani Enterprises Ltd., has raised Rs 700 crore through the issue of non-convertible debentures.
The amount has been raised after the allotment of 70,000 secured, unrated, unlisted, redeemable NCDs with a face value of Rs 1 lakh each on a private placement basis, according to an exchange filing on Wednesday.
Earlier this month, Abu Dhabi-based IHC Capital Holding LLC raised its stake in Adani Enterprises to over 5%.
IHC arm Green Vitality Rsc Ltd., along with subsidiaries Green Enterprises Investment Holding Rsc Ltd. and Green Energy Investment Holding Rsc Ltd., acquired a 0.06% stake, taking their combined shareholding to 5.04% in the Ahmedabad-headquartered company. The transaction happened through open market deals.
Shares of Adani Enterprises closed 0.38% lower on Wednesday at Rs 2,488.05 apiece ahead of the announcement, as compared with a 0.60% advance in the S&P BSE Sensex.
Disclaimer: AMG Media Networks Ltd. (AMNL) currently owns a 49% stake in Quintillion Business Media Ltd. (QBML), the owner of BQ Prime Brand. AMNL has entered into an MOU to acquire the balance 51% stake in QBML. Post acquisition, QBML will become a wholly owned subsidiary of AMNL.
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