Adani Power to raise Rs 10,000 crore on private placement basis

Adani Power on Tuesday said its board has approved raising Rs 10,000 crore through issuance of equity shares, bonds and other instruments on private placement basis.

"The Board has also accorded approval for seeking approval of the shareholders to raise funds by issue of Equity Shares / convertible Bonds through Qualified Institutional Placement/ GDR/ADR/FCCBs/FCEBs/Convertible Securities for an aggregate amount up to Rs 10,000 crore," Adani Power informed BSE.

The board also approved raising money through issue of Secured/Unsecured Redeemable Non-Convertible Debentures on private placement basis within the overall borrowing limits of the Company, it said.

The board's approval is for raising money in the period of next 12 months, the filing said.