The board will evaluate the proposal of raising funds through issue of equity shares or any other eligible securities.
The board of Adani Enterprises is scheduled to meet on 8 April 2022, to consider the proposal of raising funds by way of rights issue, preferential allotment, including a qualified institutions placement or through any other permissible mode and/or combination thereof. The fund raising will be through issue of equity shares or any other eligible securities.In a separate announcement on Tuesday, Adani Enterprises said that its Mauritius-based wholly owned subsidiary, Adani Global, acquired a minority stake in Israel-based Forsight Robotics for $20 million. Forsight Robotics is engaged in medical technology and had NIL turnover as on 31 December 2021.
"The acquisition is in furtherance of the strategic objectives of the Adani Enterprises to undertake investments which provide synergistic benefits to the existing businesses of the Adani Group," the Indian company said.
Adani Enterprises, the flagship company of Adani Group, one of India's largest business conglomerates. It is an integrated infrastructure with businesses spanning coal trading, coal mining, oil and gas exploration, ports, multi-model logistics, power generation and transmission, gas distribution, and edible oil and agro commodities.
On a consolidated basis, Adani Enterprises reported a net loss of Rs 12 crore in Q3 FY22 as against a net profit of Rs 297 crore in Q3 FY21. Total income increased by 61% year on year during the quarter to Rs 18,963 crore.
Shares of Adani Enterprises rose 3.69% to settle at Rs 2141.85 on Tuesday.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU