WionDrive News Desk 
Adani Energy Solutions revealed in a statement that it has received approval from its decision-making committee for a fundraising effort to the tune of up to 125 billion rupees (USD 1.50 billion). The company plans to obtain these funds by the offer of shares or any other security in qualified institutional placements or any other allowed means to the company.
Though the company has not mentioned clearly of any particular economic reasons for the fundraising announcement or the method to set the prices for such securities, it is an interesting strategic direction for Adani Energy Solutions. At the same time, Adani Group’s publishing company, the Adani Enterprises Limited, is planning to begin fundraising on Tuesday.
As per media reports, both Adani Energy and Adani Enterprises are expected to support a fundraising plan required for the two firms ranging between USD 3.5-4 billion. Amidst recent market turbulence, Adani Enterprises witnessed a resurgence in its shares during intraday trading on Friday, reclaiming pre-Hindenburg levels. This indicates a slight improvement in the value of the banking shares. On the other hand Adani Energy has been greatly affected and has even dropped to 60% its position as on January 24.
The troubles which befell the Adani group begin with the report of the American short-seller firm Hindenburg Research in August last year, naming the conglomerate as involved in the manipulation of stock pricing and the usage of tax havens. This led to a massive selloff of Gautam Adani’s broad consortium of businesses ranging from port operations to power.
This start paves way for Adani executives and their advisors to carry out a vigorous global public relations campaign to douse the market turmoil in its infancy, insiders disclosed. In addition, the analysis of the consolidated financial statements of Adani Energy and the standalone of relevant years discloses a significant rise in the total borrowings of 51.60% of it having risen from sixty five billion rupees as of the close of the fiscal year 2024 to a near doubling of the numbers seen in the previous year.
