New Delhi. Adani Energy Solutions, the energy company of the group led by billionaire businessman Gautam Adani, has raised more than one billion US dollars or Rs 8300 crore through QIP (Qualified Institutional Placement). The group has received funding from the market through public equity for the first time after the Hindenburg report. It is worth noting that the shares of the group companies had fallen sharply due to the Hindenburg report.
Sources with direct knowledge of the matter said that Adani Energy Solutions Limited has raised funding through QIP. This QIP opened on Tuesday i.e. today and it received a subscription of Rs 26,000 crore. With this, it became the biggest deal in India’s energy sector. It closed at Rs 1,135 against the issue price of Rs 976.
What is QIP
QIP is a share sale done without the frills of excessive paperwork. In this too, shares are issued like an IPO but not everyone can buy it. QIP can only be bought by QIB i.e. Qualified Institutional Buyers. These are those investors who are recognized by SEBI in India. These are expert investors of the market and they have an important contribution in the market.
Advantages of QIP
Its biggest advantage is that the company does not have to file papers with SEBI like IPO or FPO. The paperwork is greatly reduced in this. Since QIBs themselves are experienced investors, the company shares all the documents related to QIP directly with them. SEBI’s interference is greatly reduced in this. QIBs have so much capability that they can understand and invest in high risk investments. QIP was started by SEBI in 2006. To bring QIP, it is necessary for the company to be listed.
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FIRST PUBLISHED : July 30, 2024, 22:59 IST