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Adani Ability Ltd.: Adani Power gets shareholders’ nod to elevate up to Rs 2,500 crore

NEW DELHI: Adani Power on Friday reported it has acquired shareholders’ approval for raising up to Rs 2,500 crore in 1 or more tranches to sustain company expansion and finance enlargement strategies.
The firm sought the acceptance at its annual general meeting (AGM) on Thursday.
All the resolutions proposed in the AGM have been handed with requisite majority, the organization said in a regulatory filing.
A person of the resolutions sought authorisation of the board members to increase cash “to the extent of Rs 2,500 crore or its equivalent in any 1 or additional currencies, in a person or much more tranches, in these kind, on these kinds of terms, in this kind of a fashion, at these kinds of price and at this kind of time as may well be regarded correct by the board”, it extra.
The shareholders also authorized a proposal to have adaptability to infuse supplemental capital, to tap capital markets and to elevate more prolonged-term resources.
They also okayed elevating of funds by issuance of equity shares or instruments or securities, like world depository receipts or American depository receipts or convertible preference shares or convertible debentures and non-convertible debentures with warrants.
They also approved a proposal to re-appoint Gautam S Adani a director.
The enterprise also bought the approval to shift the existing registered business positioned at Shikhar In the vicinity of Adani House, Mithakhali 6 Roadways, Navrangpura, Ahmedabad-380009 to Adani Corporate Residence positioned at Shantigram, Around Vaishnav Devi Circle, S G Highway, Khodiyar, Ahmedabad 382421.

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