Adani Group’s Two Firms Plan to Raise Jaw-Dropping $2.57 Billion from Market

Adani Transmission and Adani Enterprise, two companies belonging to Indian conglomerate Adani Group, have announced plans to raise up to $2.57bn from the market.

The move comes after a short-seller report from Hindenburg Group battered investor confidence and sent share prices tumbling.

Adani Transmission said its board had approved a plan to raise up to $1bn from the stock market, while Adani Enterprise said it plans to raise $1.53bn.

The funds will be raised by selling equity shares through qualified institutional placements or other permissible modes. A $2.5bn share sale by Adani Enterprise was abandoned after the Hindenburg report was published in January.

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