Adani Enterprises Shares In Focus On Raising Rs 700 Crore Via NCDs

The share price of Adani Enterprises will remain in focus on Thursday after the Adani Group's flagship firm informed via an exchange filing on Wednesday that the company has raised Rs 700 crore via Non-Convertible Debentures ("NCDs") on private placement basis.

The company said, "As With reference to above subject, we would like to inform that the Company has raised Rs. 700 Crores today i.e. 11th October, 2023 by allotment of 70,000 Secured, Unrated, Unlisted, Redeemable, Non-Convertible Debentures ("NCDs") of the face value of Rs. 1,00,000/- each on private placement basis."

Last week, the Adani group's flagship company announced that Abu Dhabi-based International Holding Co (IHC) has enhanced its investment in Adani Enterprises Limited (AEL).

Commenting on this development, the company said, "We see IHC's increased stake as a ringing endorsement of our robust capex plans, governance, and transparency. This inter-generational relationship with IHC reflects well on India's dynamic growth potential and offers substantial returns to our stakeholders."

However, the company did not mention the amount invested by IHC in AEL.

Shares of Adani Enterprises Ltd closed or 0.066% lower at Rs 2,496 on the BSE on Wednesday. The slump in the company's share price was seen after a report claimed that the Indian market regulator SEBI is probing ties between Adani Group and Gulf Asia Trade & Investment, a fund incorporated in the British Virgin Islands.