Adani Green to consider fundraise on July 6

Billionaire Gautam Adani's renewable energy company, Adani Green will consider approving fundraising on July 6.

In May, two board meetings were cancelled due to non-availability of directors.

Yesterday, investment firm GQG Partners increased its shareholding in Adani Green and Adani Enterprises.

In Adani Green Energy, GQG bought 4.47 crore or 2.82% additional shares to take its holding to 10.35 crore shares or 6.54% of the total, the exchange filing showed.

GQG Partners has been ramping up its investment in the conglomerate ever since Hindenburg Research's report, alleged accounting fraud and stock price manipulation at the group.

Adani Green has emerged as the largest and fastest-growing renewable energy player in India. Its green capacities have grown at 33% CAGR over the past five years, outpacing the industry average of 15%.

Currently, the size of its renewable energy portfolio stands at 20.4 GW (8.2 GW operational and another 12,2 GW under construction and near construction projects). It is targeting a 45 GW portfolio by 2030.