Adani Power Approves Increase In Fund-Raising Limit Via NCDs To Rs 11,000 Crore

Adani Power Ltd.'s board of directors approved increasing the previously set fund-raising limit from Rs 5,000 crore to Rs 11,000 crore through non-convertible debentures.

These funds can be raised through a public issue, private placement or a combination of both, and may be issued in multiple stages. The decision replaces the earlier resolution made on Oct. 28, 2024, subject to necessary regulatory approvals, according to an exchange filing on Wednesday.

The company has earlier approved raising up to Rs 5,000 crore by issuing equity shares at a face value of Rs. 10 each or other eligible securities, or a combination of both, the filings said.

This will be done through a qualified institutional placement or other allowed methods in one or more stages. The decision is subject to approval from the company's members and other necessary regulatory approvals.

Adani Power's consolidated net profit rose 7% in the third quarter of the current financial year.

The Adani Group company posted a consolidated bottom line of Rs 2,940.07 crore for the quarter ended December, according to an exchange filing on Wednesday.

The company's revenue climbed 5.2% year-on-year to Rs 13,671.18 crore. Operating income, or earnings before interest, taxes, depreciation and amortisation, increased by 8% to Rs 5,022.92 crore. Ebitda margin expanded to 36.7% from 35.8%.