July 6 (Reuters) - India's Adani Green Energy (ADNA.NS), controlled by billionaire Gautam Adani,said on Thursday it approved raising 123 billion rupees ($1.49 billion) through qualified institutional placement.
The renewables company will use the funds to diversify its green energy supply in the country, Bloomberg had reported earlier in the day, citing sources familiar with the matter.
The company plans to expand its green energy capacity by about 3 gigawatts this fiscal year, spending around 140 billion rupees ($1.70 billion), its finance chief Phuntsok Wangyal had said in May.
In May, two other Adani group companies - Adani Transmission (ADAI.NS) and Adani Enterprise (ADEL.NS) - outlined plans to raise up to $2.57 billion after a U.S. short-seller's critical report in January battered investor confidence.
Adani Energy's shares alone have halved in value so far this year.
Persons:
Gautam Adani, Phuntsok Wangyal, Hindenburg, Adani, Adani Energy's, Indranil Sarkar, Urvi, Nivedita Bhattacharjee, Eileen Soreng, Savio D'Souza
Organizations:
Energy, Bloomberg, Adani, Thomson
Locations:
Bengaluru