Adani Energy to raise Rs.3,500-Cr via QIP

Ahmedabad-based, publicly-listed Adani Energy Solutions has launched a qualified institutional placement (QIP) to raise INR 3,500 crore, with an option to upsize the issuance based on investor demand. Jefferies, SBI Capital Markets, ICICI Securities and IIFL Securities are acting as the bookrunning lead managers for the transaction.Founded in 2013 by Gautam Adani, Adani Energy plans to issue 217 lakh shares. The indicative issue price for the offering is INR 1,615 per share.The company intends to allocate the proceeds from this fundraising toward capital expenditure, the repayment of existing borrowings, the funding of potential acquisitions and general corporate purposes.