Adani Energy Solutions is looking to raise Rs 6,000 crore via qualified Institutional Placement (QIP). In May, the Board of Directors of the company had approved raising funds up to Rs 12,500 crore via equity to fund expansion plans. 

The demand for the QIP has already tripled now, and ADIA, Qatar Fund, GQG, and US-based funds are all looking to invest in this QIP. White Oak, Nomura, Bandhan MF, Eastspring, Axis MF, and IIFL are also looking to participate in the QIP. 

The floor price of the QIP is likely to be set at Rs 1,025 per share with a maximum discount of 5% on the floor price. The size of the QIP can also be increased to $1 billion on greater demand for the QIP. 

This will be the first fundraising by an Adani Group company since the Rs 20,000 follow-on public offer for Adani Enterprises was called off last February. 

In its quarterly earnings for April-June, the company reported a 47% year-on-year increase in revenue from operations to Rs 5,379 crore for the quarter under review. However, the company reported a net loss of Rs 823.92 crore during the same quarter.

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