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Big Names Acquire Shares in Adani Energy Through QIP

This shows the trust that the investors have on the Adani Groupu2019s various businesses. It will also pave the path for the power transmission distribution and smart metering company to take up extraordinary ventures in the upcoming years. The Adani SBI relationship will also strengthen.

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Big Names Acquire Shares in Adani Energy Through QIP

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  1. Big Names Acquire Shares in Adani Energy Through QIP

  2. A unit of Qatar Investment Authority, SBI Mutual Fund, and other foreign investment funds, Citigroup and Nomura, are among the biggest buyers of shares in the Adani Group’s power transmission unit’s 1 billion USD QIP. The INR 8,373.10 crore Qualified Institutional Placement of Adani Energy Solutions witnessed over 120 investors looking for shares in the firm. This shows the trust that the investors have on the Adani Group’s various businesses. It will also pave the path for the power transmission distribution and smart metering company to take up extraordinary ventures in the upcoming years. The Adani SBI relationship will also strengthen.

  3. The Sale of Shares Billionaire Stanley Druckenmiller’s family office-led investment firms were among the top names that intended to buy shares of AESL in the QIP. AESL, in its filing, mentioned that its board has already approved the allocation of 8.57 crore shares to eligible, qualified institutional buyers. The shares will be sold at the issue price of INR 976 per share. This reflects a discount of INR 51.11 to the floor price of INR 1,027. The Adani Group has also shared details of the companies that acquired over 5% of shares in AESL. INQ Holdings LLC, which is a wholly-owned subsidiary of QIA, has acquired 15% of the total shares sold.

  4. The Significance of the QIP The QIP issuance marks the debut of highly prestigious, long-only investors in the Adani Group’s business. The investors, Duquesne Family Office, Driehaus Capital Management, and Jennison Associates, are known for investing in companies that follow high governance principles and they are also known for staying invested in the company for decades. The QIP was the first public QIP raised by the Adani Group since the Hindenburg crisis, which caused the Adani Group to sweep away billions in its share values. This demand generated made AESL QIP the largest in the energy space.

  5. Thank You For Your Attention Read More:- https://indiantribune.in/2024/08/23/big-names-acquire-shares-in-adani-sbi-energy-through-qlp/

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