Adani Enterprises witnessed a surge in shares as its subsidiary, Adani New Industries Ltd (ANIL), successfully raised $394 million through a trade finance facility from Barclays Plc and Deutsche Bank, two foreign banks.
The funding is allocated to meet the working capital requirements of ANIL’s ambitious solar module manufacturing facility. The decision signifies Adani Group’s commitment to establishing a comprehensive ecosystem encompassing large-scale green hydrogen businesses, solar modules, and wind turbine manufacturing.
The company’s share price went up to ₹2,456 at 11.40 a.m. on BSE.