Adani Energy Solutions Ltd.'s on Wednesday said its board of directors will hold a meeting in Ahmedabad on Saturday to consider and approve the proposal of raising of funds by way of the issuance of equity shares.
In a regulatory filing, the company said the methods will include private placement, a qualified institutions placement and preferential issue and will be subject to the approval of shareholders of the company.
Shares of Adani Energy Solutions closed at Rs 869.35, down 1.08% on the BSE.
The company had last month said it is planning to spend Rs 16,000-18,000 crore in capital expenditure this fiscal year, a sharp increase from last year’s Rs 11,444 crore.
Of this, it will invest Rs 12,000-13,000 crore in transmission, Rs 4,000 crore in smart meters, and Rs 1,600 crore in distribution, Kandarp Patel, CEO, AESL, told investors in a post-earnings call on 28 April.
In the March quarter, AESL’s profit after tax surged 87% year-on-year to Rs 714 crore, while total income rose 36% to Rs 6,596 crore. For the fiscal year ended March 31, profit after tax soared 103% to Rs 2,427 crore and total income grew 42% to Rs 24,447 crore. Total orderbook stood at Rs 60,000 crore as of March-end.
In a regulatory filing, the company said the methods will include private placement, a qualified institutions placement and preferential issue and will be subject to the approval of shareholders of the company.
Shares of Adani Energy Solutions closed at Rs 869.35, down 1.08% on the BSE.
The company had last month said it is planning to spend Rs 16,000-18,000 crore in capital expenditure this fiscal year, a sharp increase from last year’s Rs 11,444 crore.
Of this, it will invest Rs 12,000-13,000 crore in transmission, Rs 4,000 crore in smart meters, and Rs 1,600 crore in distribution, Kandarp Patel, CEO, AESL, told investors in a post-earnings call on 28 April.
In the March quarter, AESL’s profit after tax surged 87% year-on-year to Rs 714 crore, while total income rose 36% to Rs 6,596 crore. For the fiscal year ended March 31, profit after tax soared 103% to Rs 2,427 crore and total income grew 42% to Rs 24,447 crore. Total orderbook stood at Rs 60,000 crore as of March-end.
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