“The Board at the said Meeting has granted approval for public issuance of Non-Convertible Debentures for an amount not exceeding Rs. 2,000 crores in one or more tranches, subject to all applicable regulatory / statutory approval(s),” said the company in a filing to the stock exchanges.
“The Board at the said Meeting has decided to withdraw the draft Scheme of Arrangement among Adani Enterprises Limited and Adani Wilmar Limited and their respective shareholders & creditors (“draft Scheme”) that was approved by the Board in their meeting held on 1st August, 2024,” the filing added.
Adani Enterprises had previously announced that it will demerge its Food FMCG business with all associated activities, assets, liabilities and strategic investments in Adani Commodities LLP to Adani Wilmar.
The company informed the new developments along with its results for the second quarter ended September 2024.
Adani Enterprises reported a 664% year-on-year (YoY) jump in its September quarter consolidated net profit at Rs 1,742 crore versus Rs 228 crore reported by it in the year-ago period.Also read: Canara Bank Q2 Results: Net profit jumps 11% YoY to Rs 4,015 croreThe company’s revenue from operations stood at Rs 22,608 crore in the reported quarter which was up 16% as compared to Rs 19,546 crore reported in the corresponding quarter of the previous financial year.
However, revenue was down 11% over Rs 25,472.40 crore posted in the April-June quarter of FY25.
The shares of Adani Enterprises closed 2% higher at Rs 2,859 on the BSE today.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
