Adani Enterprises and Adani Energy Solutions, both part of the Adani Group, are gearing up to tap into the markets through qualified institutional placement (QIP) offerings.

The companies aim to raise a substantial amount of up to $2.5 billion (about ₹20,873 crore).

What Happened: The companies have been in talks with investors and are planning to launch the QIPs post-budget, Moneycontrol reported.

Adani Enterprises and Adani Energy Solutions are expected to collectively raise around $2 billion-2.5 billion (about ₹16,699 crore- ₹20,873 crore). Adani Energy Solutions is likely to fetch around $750 million (about ₹6,266 crore), while Adani Enterprises is set to raise around $1.5 billion (about ₹12,532 crore).

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The companies plan to use the proceeds to fund capital expenditure and growth plans, as well as to repay certain borrowings. Investment bank Jefferies and Axis Capital have been appointed to manage the fundraising process.

Recently, both companies secured shareholder approval for their respective fundraising initiatives. Adani Enterprises received approval to raise up to ₹16,600 crore, while Adani Energy Solutions obtained approval for a fundraising of up to ₹12,500 crore.

Price Action: Shares of Adani Enterprises closed 1.47% lower at ₹3,143.90 and Adani Energy settled 1.08% down at ₹1,024.00 on Thursday.

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