Adani Enterprises on Friday (25 November 2022) announced that its board has approved fund raising by way of further public offering (FPO) through fresh issue of equity shares, aggregating up to Rs 20,000 crore.
The company said that it will seek shareholders approval for the FPO by way of postal ballot process.
Adani Enterprises is the flagship company of Adani Group, one of India's largest business conglomerates. The company's business investments are centred on the fields of airport management, technology parks, roads, data centre and water infrastructure.
The company's consolidated net profit zoomed 117% to Rs 460.94 crore in Q2 FY23 as against Rs 212.41 crore posted in Q2 FY22. Net sales surged 188.8% to Rs 38,175.23 crore in Q2 FY23 from Rs 13,218.02 crore recorded in the corresponding quarter previous year.
Shares of Adani Enterprises were down 0.69% to Rs 3,895 on the BSE.
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