Mumbai (Maharashtra) [India], The board of directors of Adani Energy Solutions (AESL) has approved raising Rs 12,500 crore by issuing multiple equity shares of face value Rs 10 each. "At the meeting held on May 27, 2024, which began at 2.30 pm and ended at 4.00 pm, it decided to raise funds by issuing a large number of equity shares," Adani Energy Solutions said through an exchange filing on Monday. Has been approved." Eligible Securities Institutional Placement (“QIP”) or other permitted mode as per applicable laws, in one or more tranches,” the release said in the exchange filing adding that the proposal to raise funds is subject to the receipt of necessary approvals, dated Tuesday. Adani Energy Solutions Limited (AESL) is a subject to the approval of the members of the Company at the upcoming Annual General Meeting of the Company to be held on June 25, 2024 and other regulatory/statutory approvals as required.One of India's largest private sector power transmission companies. AESL aims to install 30,000 circuit kilometers of transmission lines by 2030. AESL's distribution arm, Adani Electricity Mumbai Limited, is India's largest private sector electricity distribution utility, which distributes electricity in Mumbai. Adani Electricity meets the electricity demand of about 2,000 MW in Mumbai. The company plans to expand its services across the larger geography of India.AESL has also forayed into smart metering business to achieve the operational and financial efficiencies required for distribution companies. The company plans to transform from a service provider to an integrated solutions platform by leveraging its delivery expertise in Mumbai and Mundra.