Adani Energy Solutions Raises $1 Billion Through Share Sale: Report

New Delhi: Gautam Adani-led group’s power transmission unit, Adani Energy Solutions, has raised $1 billion through a share sale, the first public equity raise by the conglomerate since the Hindenburg report. Adani Energy Solutions Ltd raised the funds through a qualified institutional placement (QIP) issue, sources with direct knowledge of the matter told Press Trust of India. The QIP, which opened on Tuesday, was oversubscribed three times with demand of about Rs 26,000 crore – making it the largest transaction in India’s energy space. The issue closed at Rs 1,135 per share, as against the issue price of Rs 976 per share or a 14 per cent listing discount.