Funds to be raised from the proposed QIP are planned to be used for capital expenditure purposes as well as to repay some existing debt of the company and its subsidiaries.

Adani Enterprises on Wednesday launched a share sale to institutional investors to raise up to 166 billion rupees ($1.98 billion), as billionaire Gautam Adani's flagship firm seeks to shore up capital to fund expenses and repay debt.

Adani Enterprises showed mixed stock performance. Over the past month, it gained 3.62%, while a six-month period saw a 4.55% decline. Year-to-date, the stock provided 8.62% positive returns, and in the last twelve months,

Adani Enterprises initiates a Rs 4,200 crore qualified institutional placement to raise funds, with a floor price set at Rs 3,117.4750 per share.

By Dhwani Pandya and Nishit Navin (Reuters) -Adani Enterprises aims to raise $500 million through a share sale it launched on Wednesday, two sources with direct knowledge said, as billionaire Gautam Adani's flagship firm seeks to shore up capital to fund expenses and repay debt.

Adani Enterprises on October 9 announced launch of a qualified institutional placement (QIP) offer, at a floor price of Rs 3,117 per share, a release from the company stated. This will help the company in raising funds,