Last week, top executives from Adani Enterprises informed analysts that the company intends to raise funds as soon as possible through a qualified institutional placement (QIP) to support its green hydrogen initiatives, reported Business Standard.
Saurabh Shah, the company’s deputy chief financial officer (CFO), explained, “We are looking to expedite our green hydrogen projects. Therefore, we aim to complete the QIP at the earliest.” He noted that the capital expenditure (capex) plans for airports, roads, data centers, PVC, and copper businesses are fully funded.
Shah added, “Aside from Adani New Industries, we have sufficient cash flow from existing and expanding operations to cover the equity portion for at least another 1-2 years. The QIP will address the substantial equity requirements for Adani New Industries.”
Reuters reported separately on Wednesday that the company is expected to launch a $1 billion share sale by mid-September, citing three sources familiar with the matter.
On Monday, Adani Energy Solutions announced to the exchanges that it had raised $1 billion through a qualified institutional placement (QIP), with demand approximately six times greater from global long-only investors and domestic mutual funds.
In May, Shah had mentioned that the company plans to invest Rs 80,000 crore in FY25, with a significant portion allocated to the new energy sector and airport business, which will account for around Rs 50,000 crore.
