Adani Transmission, an Indian company, reported that its board has approved a plan to raise up to 85 billion rupees ($1.0 billion) in the market on Saturday.
A few months after a report from American short-seller Hindenburg Group destroyed investor confidence and caused the group's share prices to decline, one of the Adani Group companies announced plans to raise money.
Despite an ongoing investigation by India's market regulator into Hindenburg's allegations and Adani group's related-party transactions following a Supreme Court order, Adani continues to refute all accusations.
Adani Transmission, on the other hand, has announced its intention to raise funds by selling equity shares through qualified institutional placements or other permissible modes, according to a statement.
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