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Adani Transmission has got shareholders’ nod to raise to Rs 2,500 crore in one or more tranches through the issuance of equity shares, securities and debentures, according to a regulatory filing by the company.
The proposal to raise to Rs 2,500 crore by issuance of equity shares, securities, debentures, etc., was passed by the requisite majority in the annual general meeting (AGM) held on Tuesday, according to the BSE filing.
The company had proposed to have the flexibility to infuse additional capital, to tap the capital markets and to raise other long-term resources, if necessary. This was aimed at sustaining rapid growth in the business, expanding business, and improving the leveraging financial strength of the company.
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According to the AGM notice, the proposed resolution had sought the enabling authorization of the members to the board of directors to raise funds to the extent of Rs 2,500 crore or its equivalent.
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