Adani Energy to raise Rs 3,500 crore via a QIP with upsize option

Adani Energy is set to raise about Rs 3,500 crore through a Qualified Institutional Placement (QIP) with an upsize option. The indicative issue price is Rs 1,615 per share, at a discount of 4.90 percent to the floor price of Rs 1,698.15, with the company planning to issue 217 lakh shares. Proceeds will be used for capital expenditure, repayment of existing borrowings, funding potential acquisitions, and general corporate purposes, with Jefferies, SBI Capital Markets, ICICI Securities, and IIFL Securities acting as book running lead managers.