Adani Enterprises to again try raising funds; Board meet on May 13

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Board of Adani Enterprises Ltd, will consider fundraising on May 13. The board of the company will meet in Ahmedabad. The board will consider raising funds through equity shares, private placement, QIP or preferential issue. Meanwhile, a Mauritius Parliamentarian, said there were no shell companies of the Adani group in Mauritius. called the claims of the presence of Shell companies of the Adani Group in He called the Hindenburg report “false and baseless”. Adani groups shares witnessed sharp upside movement during morning deals on Thursday. All 10 Adani group share price surged in the opening bell whereas Adani Enterprises share price gained maximum buy adding to the tune of 4 per cent within few minutes of market opening. The Supreme Court will hear on May 12 the pleas on the Adani-Hindenburg row and is likely to consider market regulator SEBI’s application for extension to complete its probe.

Go First may fly again

Amid insolvency crisis, budget airline Go First is expected to resume flights on May 24. The airline has chalked out a business plan to restart its operations with 23 aircraft, according to a media report. The development comes after the National Company Law Tribunal allowed IBC proceedings on Wednesday. The decision to allow Go First’s voluntary insolvency petition and bar aircraft lessors from repossessing the carrier’s planes may increase India’s risk profile, causing lessors to charge other airlines higher risk premiums. Meanwhile, Air India’s ‘November Oscar Whiskey’ ad led to a rush in job applications by Go First pilots with more than 200 pilots of the bankrupt budget airline receiving employment offers. The pilots are being roped in at the same salary as other Air India pilots with similar work experience. IndiGo, Akasa are also in line to snap up Go First pilots stranded after airline’s NCLT filing. SMBC Aviation Capital a lessor to Go First has moved the NCLAT against the NCLT order on Go First insolvency plea.

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