The funds will be used to expand green energy operations. QIPs allow listed companies to raise capital without depending on foreign capital.
“THE Fund raising proposal is subject to the necessary approvals, including those of the company’s shareholders and other regulatory bodies”, Adani Green said in the filing, adding that the company will seek shareholder approval through a mail-in vote.
AGEL is the largest player in the renewable energy segment in the country. In March, it said its operating renewable energy portfolio had reached 8,024 MW after the opening of its fourth wind-solar hybrid power plant in Jaisalmer, Rajasthan. AGEL has set a target of 45 GW of renewable energy capacity by 2030.

Debt relief, investor concerns
Last week, boutique investment firm GQG Partners increased its stake in AGEL from 3.50% to 6.32% for $1.17 billion (₹9,600 crore). The shares were acquired from entities of the promoter group. French energy giant Total Energies holds a 19.7% stake in AGEL.
Flagship of the group Adani Enterprises in May said it would raise ₹12,500 crore in a QIP. Adani Transmission said he would raise ₹8,500 crore through the same avenue.
The fundraising will allay Adani’s debt servicing concerns, as well as inspire investor confidence.
Adani Group tried to bolster investor confidence after short seller Hindenburg Research’s report in January led to a rout in stocks. Equities have recovered some of the ground lost since then.
“The report was a combination of targeted misinformation and outdated and discredited allegations aimed at damaging the Adani Group’s reputation and generating profits through a deliberate decline in the group’s share prices,” Chairman Gautam Adani said in a statement. his speech to the shareholders of Adani Enterprises FY23. Annual Report. He said the group was confident in its governance and disclosure standards.
Adani Green Energy Certificate ended at ₹961.30, up 1.41% on BSE on Thursday. The benchmark Sensex index ended up 0.52%. Since April 6, the stock is up 12.42% from ₹855.05, according to BSE data.