Adani Is Said to Plan Raising $1.2 Billion for Flagship Firm
- Adani Enterprises is considering fundraising via share sale
- Group flagship may launch offering as soon as September
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Billionaire Gautam Adani’s flagship firm is considering raising around 100 billion rupees ($1.2 billion) to 120 billion rupees through a share sale, according to people familiar with the matter, a move that would follow a separate recent fundraising deal at his power transmission unit.
Adani Enterprises Ltd. may seek to raise funds through a so-called qualified institutional placement, or QIP, the people said, asking not to be identified because the matter is private. ICICI Securities Ltd., Jefferies Financial Group Inc. and SBI Capital Markets Ltd. are helping the port-to-power conglomerate on a share sale that could take place as early as September, the people said.