Adani Power has received shareholders’ approval to raise up to Rs 10,000 crore through issuance of shares, bonds or other securities, including for investments in various businesses. The proposal was approved by the shareholders at an Annual General Meeting of the company held in Ahmedabad on August 11, 2015.
The company will raise money by issuing securities which may include equity shares, Global Depository Receipts, American Depository Receipts, convertible preference shares, convertible debentures, non-convertible debentures, Foreign Currency Convertible Bonds, Foreign Currency Exchangeable Bonds, or warrants. Shareholders have also approved a separate proposal to raise money through issue of non-convertible debentures on private placement basis.
The company has also received approval for the proposal of investments of up to Rs 10,000 crore in other businesses by investing in securities of a company or its subsidiary in one or more tranches.
Adani Power is engaged in the business of generation, accumulation, distribution and supply of power and to generally deal in electricity and to explore, develop, generate, accumulate, supply and distribute or to deal in other forms of energy from any source whatsoever.
| Company Name | CMP |
|---|---|
| NTPC | 356.75 |
| Tata Power | 385.85 |
| Power Grid Corpn. | 286.30 |
| Adani Power | 223.70 |
| Torrent Power | 1415.55 |
| View more.. | |
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