Adani Enterprises launches ₹10,000 cr QIP at ₹2,883 per share
Adani Enterprises is raising ₹10,000 crore ($1.05 billion) through a qualified institutional placement (QIP), offering shares at ₹2,883 each, a 9.27% discount from today's closing price.
This is the second phase of its fundraising plan and, unlike the earlier rights issue open to everyone, this one's just for big institutional investors.
Funds for airports and data centers
The funds are set to power Adani's next-generation projects: think new airports, AI-ready data centers (with help from Jabil Inc.), and an aluminum plant in Odisha with International Holding Co.
The group has also pledged $100 billion to develop green-energy-powered, AI-ready data centers by 2035.
Analysts note that Adani's ambitious growth depends heavily on these fundraisers, and all this cash is earmarked for expansion, not paying off debt.