Adani Energy Solutions To Consider Fundraise On May 27

Adani Energy Solutions Ltd.'s board will discuss raising funds via multiple instruments in a meeting on May 27.

The board will meet to consider and approve the proposal of raising funds by way of issuance of equity shares or any other eligible securities through permissible modes, including but not limited to a private placement, a qualified institutional placement, preferential issue, or any other method or combination of methods, according to an exchange filing on Wednesday.

Last week, the company acquired Essar Transco Ltd. through its subsidiary Adani Transmission Step-two Ltd. for an enterprise value of Rs 1,900 crore. The acquired entity operates the transmission line linking Mahan in Madhya Pradesh to the Sipat pooling substation in Chhattisgarh, according to a company statement.

Shares of Adani Energy Solutions closed 2.38% higher at Rs 1,086.55 apiece on Wednesday, as compared with a 0.36% advance in the benchmark BSE Sensex.

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