By Malvika Gurung
Investing.com -- The flagship company of Asia’s richest man Gautam Adani (NS: APSE ), Adani Enterprises (NS: ADEL ) will be in focus on Nov 25 as the behemoth’s board is scheduled to meet on the day for consideration of fundraising options.
As per the giant’s filing to the stock exchanges, its board of directors will meet on Friday, November 25, 2022, at Ahmedabad to consider and approve the proposal of capital raising by way of further public offering or through preferential allotment, including a qualified institutions placement (QIP).
The proposal would require regulatory/statutory approvals, including approval from the company’s shareholders.
The company stated that the trading window for dealing in its securities shall remain closed, starting Nov 22, 2022, for two days after the board meeting concludes, which means until the end of the day of Nov 27.
According to a Bloomberg report, sources cited that Adani Enterprises could issue at least $1.8 billion in new shares.
Shares of the company declined 1.1% to Rs 3,880 apiece at 9:24 am on Friday.
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