Adani Enterprises falls 3% as board to mull fund-raise on November 25

According to a Bloomberg report, the share sale for the fund raise could raise as much as $2.4 billion for the company

Shares of Adani Enterprises, the flagship company of Adani Group, were 3 per cent down to Rs 3,895 on the BSE in Wednesday’s intra-day trade after the company announced that its board will meet on Friday, November 25, to consider capital raising options.

“A meeting of the board of directors of Adani Enterprises will be held on Friday, 25th November 2022, inter alia, to consider and approve the proposal of raising of funds,” the company said in a regulatory filing.

The fund raising will be by way of a further public offering (FPO), preferential allotment (including a qualified