Adani Transmission to seek shareholders nod to raise Rs 8500cr

Adani Transmission Ltd today said it will seek shareholders' nod to raise up to Rs 8,500 crore by issuing equity shares and convertible bonds through QIP, among others.
The board has "accorded approval for seeking approval of the shareholders at the ensuing Annual General Meeting to raise funds by issue of equity shares/convertible bonds through qualified institutional placement(QIP),/GDR/ADR/ FCCBs/FCEB/ convertible securities for an aggregate amount up to Rs 8,500 crore," Adani Transmission said in a BSE filing.
It further said the board has also approved seeking shareholders' nod to "issue secured/unsecured redeemable non-convertible debentures on private placement basis within the overall borrowing limits of the company in the period of next twelve months through private placement mode."

Adani Transmission Limited, the transmission business arm of Adani Group, is a leading private sector transmission company with over 5,000 circuit kms of operational transmission lines across Western and Northern regions of the country along with 12,000 MVA transformation capacity.