Adani Transmission board approved fund raise worth not exceeding ₹8,500 crore

Adani Transmission Ltd board has approved fund raise proposal allowing issuance of fresh equities. The board of directors of the company considered and approved the proposal for fund raise in its scheduled board meeting on Saturday. 

However, issuance of fresh equities not exceeding ₹8,500 crore is subject to approval by approval of the company through postal ballot process.

However, Adani Transmission Ltd will seek approval of the shareholders for the aforesaid issuance and ancillary actions by way of postal ballot process.

Adani Transmission share price had ascended on 11th May 2023 after the Adani group company informed BSE and NSE that the company board will discuss and approve fund raise plans in its upcoming board of directors meeting scheduled on 13th may 2023.

However, in the week gone by, Adani Transmission share price has corrected more than six per cent.