The proposed fund-raising by Adani Energy Solutions aims to broaden its shareholder base and enhance its global presence. Similarly, Adani Enterprises is considering fresh capital infusion, while Tata Steel plans to raise funds through non-convertible debentures (NCDs).

Adani Energy Solutions and Adani Enterprises had previously secured shareholders' approval for fund-raising via QIP in May 2023 but did not proceed with the proposals. The current board meetings serve to enable swift action when favourable financing terms are identified.

Meanwhile, Tata Steel will discuss raising funds through NCDs at its upcoming board meeting, coinciding with the announcement of its Q4 FY24 earnings. Despite market volatility, the stocks of Adani Energy Solutions and Tata Steel remained relatively stable, while Adani Enterprises saw a marginal decline in its stock price. (Source: ET)