Billionaire Druckenmiller Bets On Adani Energy's $1 Billion QIP That Oversubscribed 6 Times.
Billionaire Stanley Druckenmiller’s family office has made its first investment in Adani Energy Solutions through the company’s $1 billion qualified institutional placement (QIP), which was oversubscribed six times, attracting demand exceeding Rs 50,000 crore. Sources reveal that Duquesne Family Office, along with US-based funds Driehaus Capital Management and Jennison Associates, participated in this QIP.
A QIP allows listed companies to raise funds from major institutions. The QIP issue for Adani Energy Solutions attracted over 120 investors interested in its power transmission, distribution, and smart metering operations. These high-profile investors are recognized for their commitment to high governance standards and long-term investments.
Adani Energy’s shares experienced a significant surge, increasing over 15 percent during intraday trading and closing 11.24 percent higher on Thursday.
The Adani Group has a track record of bringing in prominent long-term investors such as GQG Partners, Qatar Investment Authority (QIA), and International Holding Company (IHC), all of whom also participated in this QIP. Additionally, top global investors like Blackrock, Jupiter Asset Management, Nomura Asset Management, and Eastspring, as well as domestic mutual funds including SBI Mutual Fund, HDFC Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, and LIC, were involved in the QIP.
For the April-June quarter, Adani Energy Solutions reported strong financial results with a 73 percent increase in net profit, a 43 percent rise in revenue, and a 47 percent year-on-year growth in operational revenue to Rs 5,379 crore. The company's adjusted profit after tax (PAT) reached Rs 315 crore, and its operational EBITDA was Rs 1,628 crore, marking a 29.7 percent year-on-year increase.
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