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Adani Energy Solutions launches ₹3,500 crore QIP, shares fall over 3%
The placement can be upsized, with Adani Energy Solutions planning to issue 217 lakh shares and setting a QIP floor price of ₹1,698.15.
Adani Energy Solutions shares declined more than 3% on Tuesday after the Adani Group company formally launched a Qualified Institutional Placement to raise ₹3,500 crore, with an option to upsize the issue based on investor demand, according to LiveMint Markets. The stock fell as much as 3.4% to a day low of ₹1,644.60 on BSE. LiveMint Markets also noted the company has gained strongly over recent periods, including about 89% over 6 months and 104.5% in the past year. Under the QIP, the company is authorized to raise up to ₹10,000 crore. The company plans to issue 217 lakh shares and set a floor price of ₹1,698.15 per equity share, which represents a 5.18% discount to the ₹1,703.30 closing market price on Monday. Adani Energy Solutions said its board approved the fundraise on July 1, 2026, and shareholders cleared it via a special resolution on July 25, 2026. LiveMint Markets added that SBI Capital Markets, ICICI Securities, IIFL Capital Services, and Jefferies India were appointed as book running lead managers.