The fundraising is subject to shareholders' approval and other regulatory permissions, the company said in a stock exchange update.
While the company did not disclose the use of the funds, sources had told FE earlier that AGEL was looking to raise funds, which would be used for its capex plans and paring debt.
AGEL is the country's largest green energy firm with a total planned capacity of 20,000 MW by 2025. In FY23, it added 2,676 MW renewable capacity to its operational fleet, which included 2,140 MW solar-wind hybrid plants in Rajasthan, 325 MW wind power plant in Madhya Pradesh and 212 MW solar power plants in Rajasthan. Its total operational capacity stood at 8,086 MW as of March 31, 2023.
The firm also has a solar panel manufacturing facility in Mundra.
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