Adani Energy selects ICICI, Jefferies, and SBI for a Rs 50 billion QIP share sale, its first public equity market entry.
Adani Energy, a power transmission unit of Gautam Adani's conglomerate, has selected investment banks including ICICI Securities, Jefferies Financial Group, and SBI Capital Markets to arrange a share sale of at least Rs 50 billion ($597 million). The share sale, a qualified institutional placement (QIP), could be concluded by mid-August. This marks the Indian conglomerate's first foray into public equity markets.
July 26, 2024
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