Adani Transmission gets approval from shareholders to raise Rs 8,500 crore

Adani Transmission has got shareholders' approval to raise up to Rs 8,500 crore through issuance of equity shares on qualified institutional placement basis.

The company had sought shareholders' approval through postal ballot to raise up to Rs 8,500 crore by way of qualified institutional placement through issuance of equity shares and/or other eligible securities to eligible investors on May 15, 2023.

According to the company's BSE filing, 98.64 per cent votes were polled in favour of the resolution.

The company's board had approved the proposal at a meeting on May 13, 2023.

Adani Transmission had earlier said it anticipates growth opportunities in its existing operations and continues to evaluate various avenues for organic expansion and achieving inorganic growth.

Towards this, the company continues to require capital for achieving such growth and expansion.