Three companies of Adani Group can raise ₹ 41,000 crores: Enterprises and Transmission will raise funds of ₹ 21,000 crores

Three companies of the Adani Group are planning to raise funds up to Rs 41 thousand crore. These three companies include Adani Transmission and Adani Green Energy, apart from the group's flagship company Adani Enterprises. The boards of both Enterprises and Transmission companies have also approved the plan to raise funds from the market on Saturday (May 13).
Enterprises plan to raise funds up to Rs 12,500 crore. On the other hand, Adani Transmission will raise a fund of Rs 8,500 crore. In this way, both companies will raise a total of Rs 21,000 crore. Both companies have given this information in separate stock exchange regulatory filings after their board meeting.
In the filing, both companies said that they plan to raise funds by selling equity shares or other eligible securities through Qualified Institutional Placement (QIP) and other permissible modes.
Meanwhile, Adani Green Energy has extended the date of the meeting of the board of directors to May 24 to consider plans to raise funds. Earlier this meeting was to be held today i.e. Saturday, May 13 only. A few days ago, Bloomberg had told that the three companies have a plan to raise funds up to $ 5 billion i.e. Rs 41,000 crore.
After the companies get funding, the concerns related to the ability to repay the debt of Adani Group are expected to subside. Also, this will help in instilling some confidence among the investors. Adani Group is going to raise this funding at a time when it is facing an investigation by the Supreme Court-appointed committee and market regulator SEBI on Hindenburg's allegations.
Investors' confidence in the Adani Group was shaken after the allegations made by American short-seller firm Hindenburg Research saw a sharp decline in its shares. Gautam Adani, however, insisted that the allegations would not affect his group's business plans.
Adani Group had earlier raised $ 1.9 billion i.e. Rs 15.62 thousand crores by selling some stakes in its 4 companies to American investment firm GQG Partners in March. At the same time, the group has tried to win back the trust of investors and make up for the losses after the Hindenburg allegations by holding several road shows and prepaying its debt.