"qualified-institutional-placement"

Adani Enterprises has increased its Qualified Institutional Placement to Rs 15,000 crore after receiving bids worth about Rs 38,000 crore. The company said the funds will support capital expenditure, debt repayment and strategic investments across its incubation businesses

All the bigger banks are contributing but the stake of each will be less than 10 per cent, he explained.

It would raise the fund during the current fiscal.The bank will utilise the raised capital for general business purposes, it said.