Adani Energy nod for Rs 4.3k crore share sale

Billionaire Gautam Adani-controlled Adani Energy Solutions approved raising Rs 4,300 crore via a stake sale. Adani Group unit's board approved a proposal to raise the amount via "qualified institutional placement" in one or more tranches, an exchange filing showed on Saturday. Adani companies are steadily regaining investor confidence after a US indictment of the founder soured sentiment. In March, Fitch Ratings removed Adani Energy from a rating watch and assigned it a negative outlook, citing moderating risks associated with the group's liquidity.

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