The Adani Foundation, which is the corporate social responsibility arm of the Adani Group, has donated Rs 100 crore to the Telangana government for the establishment of a university that will help young people develop industry-specific skills.

The firm allocated 1.41 crore equity shares to qualified institutional buyers at an issue price of Rs 2,962 per equity share, it said in a statement.

Shares of Adani Enterprises dropped nearly 1% in opening trade on Friday even after the Adani group company informed exchanges that it raised ₹4,200 crore ($500 million) via qualified institutional placement (QIP) route to support its growth plans.