Adani Power Ltd to raise funds

In continuation of Outcome of Board Meeting dated May 03, 2016, the Board of Adani Power Ltd has also accorded approval for seeking approval of the shareholders at the ensuing annual general meeting to raise funds by issue of Equity Shares / convertible Bonds through Qualified Institutional Placement [QIP] / GDR / ADR / FCCBs / FCEBs / Convertible Securities for an aggregate amount upto Rs. 10,000 Crores and to issue Secured / Unsecured Redeemable Non-Convertible Debentures on private placement basis within the overall borrowing limits of the Company.

In the period of next twelve months through private placement mode.

Shares of ADANI POWER LTD. was last trading in BSE at Rs.31.7 as compared to the previous close of Rs. 32.3. The total number of shares traded during the day was 1348715 in over 2437 trades.

The stock hit an intraday high of Rs. 32.9 and intraday low of 31.5. The net turnover during the day was Rs. 43567134.

Source : Equity Bulls

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