Adani Energy Solutions Limited (AESL) has reached a significant milestone by successfully raising Rs 8,373 crore (USD 1 billion) through its Qualified Institutional Placement (QIP), setting a new record for the largest QIP in India’s power sector.
he demand for the offering was immense, as bids reached about six times the initial deal size from a variety of investors. This group consisted of utility-focused US investors venturing into the Indian market for the first time, sovereign wealth funds, prominent Indian mutual funds, and insurance companies. The high level of interest allowed AESL to fully exercise the green shoe option, successfully increasing the total issue size to USD 1 billion.
The enterprise has invested heavily in renewable power transmission projects, such as the Khavda project in Gujarat and various initiatives across Rajasthan, with the goal of facilitating the evacuation of large quantities of renewable energy. Moreover, it has achieved a 37 percent renewable power distribution in Mumbai and is focused on further increasing this capacity.
Be First to Comment