May 13 very important for Adani group, board meeting of 3 companies may seal fund raising

Adani Group Companies: This weekend is going to be very important for Adani Group. The board meeting of the three companies of the Adani group headed by Gautam Adani is going to be held on Saturday, May 13, 2023, in which the board meeting of the three companies will discuss and seal the fund raising. The three Adani group companies can raise funds up to $5 billion.

Raising funds has remained a big challenge for the Adani group since the Hindenburg research report on the listed companies of the Adani group came to the fore. Due to lack of funds, the group had to withdraw from many projects. The board meeting of Adani Group’s three companies Adani Enterprises, Adani Green Energy and Adani Transmission will be held on 13 May 2023 in Ahmedabad.

In the regulatory filing filed with the stock exchange, the three companies said that on May 13, they will discuss issuing equity shares or other eligible securities. Although these three companies did not tell how much fund they are going to raise. But it is believed that 3 to 5 billion dollars can be raised by combining all the three companies.

After the roadshow that Adani Group did in Asia, Europe and America, investors from Europe and the Middle East are showing interest in investing in the group. Earlier, Adani Enterprises, the flagship company of Adani Group, had brought its Rs 20,000 crore FPO in the last week of January. But after Hindenburg’s report, he had to withdraw the FPO. While the FPO was completely filled. The company had to return the investors’ money. The company had fixed a price band of Rs 3112 to Rs 3276 per share. But after Hindenburg’s report the stock fell upside down and is currently trading at Rs 1984.

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