Adani Energy’s $1 b QIP closes successfully

by malinga
August 11, 2024 1:06 am 0 comment 962 views

A unit of the Qatar Investment Authority, SBI Mutual Fund, and foreign investment funds Nomura and Citigroup were the biggest buyers of shares in Adani Group’s power transmission unit’s $1 billion QIP, according to a stock exchange filing by the company.

The qualified institutional placement (QIP) of Adani Energy Solutions Ltd (AESL), which closed last week, saw over 120 investors seek shares in the firm that is into power transmission, distribution and the smart metering business.

Billionaire Stanley Druckenmiller’s family office-led investment firms were among the companies that sought shares of AESL in the QIP.

Giving details of allottees who got over 5 percent of shares, it said INQ Holdings LLC, a wholly-owned subsidiary of QIA, cornered 15 per cent of the shares sold.

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