The company's Board has approved raising an aggregate amount of not more than Rs 12,300 crore via QIP for the purpose of fund expansion and is subject to necessary approvals. According to a Bloomberg report, Adani Green Energy is planning to bring on board more institutional investors and attract additional research analysts to cover the company by selling its equity shares through the QIP mode, as there is only one analyst covering the company at present, a source privy of the matter stated. Prior to the approval of the aforementioned fundraising plan for Adani Green, the ports-to-power conglomerate giant Adani Enterprises (NS: ADEL ) has approved the fundraising plans for its flagship company Adani Enterprises, and Adani Transmission (NS: ADAI ), of an amount as high as $2.6 billion.