New Delhi, Jul 6 (PTI) Adani Green Energy Ltd (AGEL) on Thursday said its board has approved a proposal to raise up to Rs 12,300 crore through qualified institutional placement (QIP) route.

The approval was for "raising of funds by way of issuance of such number of equity shares having face value of Rs 10 each of the company and/or other eligible securities or any combination thereof, for an aggregate amount not exceeding Rs 12,300 crore or an equivalent amount thereof by way QIP or other permissible mode in accordance with the applicable laws..."

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The board also approved the proposal to seek approval of the shareholders for the aforesaid issuance and ancillary actions by way of a postal ballot process.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)