Adani Energy Solutions, a part of the Adani Group, is gearing up for a significant financial move. The company is expected to launch a qualified institutional placement (QIP) within the next two weeks, aiming to raise up to $1 billion (₹8,400 crore). This move is seen as a strategic step to support the company’s expansion plans and strengthen its position in the energy sector.

The QIP is likely to be launched later this week or early next week, with the company looking to raise around $700 million to $800 million initially. However, if demand warrants, the fundraising could be increased to $1 billion. This marks the first equity fundraising by an Adani Group company since Adani Enterprises cancelled its ₹20,000 crore follow-on public offer (FPO) in February of last year.

Adani Energy Solutions has been preparing for this QIP following a month of roadshows, during which interest was expressed by US-based funds GQG Partners and Qatar Investment Authority, along with domestic mutual funds. This interest underscores the confidence in the company’s growth potential and the attractiveness of the energy sector in India.

The company’s board had previously approved raising ₹12,500 crore through equity to fund expansion efforts. This upcoming QIP is a part of this broader strategy to raise capital and drive growth. The funds raised will be used to support the company’s ongoing projects and potential future investments in the energy sector.

The decision to launch a QIP comes at a time when Adani Energy Solutions reported a significant increase in revenue from operations. For the quarter ended June 30, the company posted revenue from operations of ₹5,379 crore, a 47% increase from ₹3,664 crore in the same period last year. However, the company also posted a consolidated net loss of ₹824 crore for the quarter, compared with a net profit of ₹175 crore in the same period last year.

The upcoming QIP is a testament to the company’s resilience and commitment to its growth strategy. It also reflects the company’s ability to attract investors and raise capital, despite recent challenges. As the energy sector continues to evolve, Adani Energy Solutions is positioning itself to capitalize on the opportunities and drive sustainable growth.