Disclosure Context
This is a mandatory regulatory disclosure filed with BSE Limited and National Stock Exchange of India Limited pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI circular no. CIR/CFD/CMD1/162/2019 dated December 24, 2019. The statement covers the quarter ended 30th September 2026 and has been duly reviewed by the Audit Committee of the Company.
Fund Raising Details
- Mode of Fund Raising: Qualified Institutional Placement (QIP)
- Date of Raising Funds: 9th July 2026
- Amount Raised: ₹15,000 Crores
- Monitoring Agency: CARE Ratings Limited (Applicable)
Key Finding
There was no deviation or variation in the utilization of proceeds from the QIP issue from the objects stated in the Placement Document dated 7th July 2026 for the quarter ended 30th September 2026.
Fund Utilization Breakdown
| Purpose | Original Allocation (₹ Crores) | Funds Utilized (₹ Crores) |
| Funding capital expenditure for subsidiaries: (a) PVC plant setup; (b) Payment of concession fee for tolling, operation, maintenance and transfer of six-lane Chennai Outer Ring Road (CORR) | 2,450.00 | 640.47 |
| Repayment/pre-payment of outstanding borrowings of Company and subsidiaries (Mundra Solar PV Limited, Adani Airport Holdings Limited, and Kutch Limited) including interest | 7,800.00 | 6,805.10 |
| Funding inorganic growth through unidentified acquisitions/investments and general corporate purposes | 4,664.50 | 3,727.79 |
| Issue expenses | 85.50 | 85.22 |
| Total | 15,000.00 | 11,258.58 |
Note: Utilization figures exclude income earned on interim investments of funds.