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Adani Energy Solutions Raises Rs 8,373 Crore Through QIP

Ahmedabad, Gujarat, India – August 5, ANI

Adani Energy Solutions Limited (AESL) has successfully completed its Rs 8,373-crore Qualified Institutional Placement (QIP).

The company informed in a statement on Friday that the issue was subscribed 2.5 times. The issue price was fixed at Rs 227 per share, resulting in an aggregate amount of Rs 8,373 crore.

WEB Cyril Amarchand Mangaldas advised AESL on the transaction, while Latham Watkins advised the bookrunning lead managers, SBI Capital Markets Limited and Jefferies.

Conclusion

Adani Energy Solutions' successful QIP demonstrates the strength of the company and the confidence of investors in its growth prospects. The proceeds from the QIP will be utilized to fund the company's expansion plans and strengthen its balance sheet.