Adani Enterprises, a subsidiary of the Adani group, plans to raise up to 20,000 crore rupees through a follow-on public offer (FPO) after filing papers with the Securities and Exchange Board of India (SEBI).
Anchor investors can bid on January 25th, the FPO will be open to public shareholders on January 27th and close on January 31st.
Adani Enterprises FPO Details:
| Floor Price | `3,112/share |
| Cap Price | `3,276/share |
| Discount for Retail Investors | `64/share |
| Minimum Bid Size | 4 shares |
| Anchor Investors Bidding | January 25 |
| FPO Opens for Retail | January 27 |
| FPO Closes | January 31 |
The FPO includes a reservation of shares worth up to 50 crore rupees for eligible employees, not exceeding 5 percent of post-offer paid-up equity share capital, and potential discounts for retail investors.
The proceeds will be used to fund capital expenditures of subsidiaries, debt repayment, and other corporate purposes.
10,869 crore rupees will be allocated for certain projects in the green hydrogen ecosystem, improvement of existing airport facilities and construction of a greenfield expressway.
4,165 crore rupees will be used for repayment of borrowings for Adani Enterprises and its subsidiaries Adani Airport Holding, Adani Road Transport, and Mundra Solar.
ICICI Securities, JM Financial, SBI Capital Markets, and Jefferies India have been appointed as bankers for the FPO.
Adani Enterprises shares closed at 3,582 rupees per piece, a decrease of 1.56 percent, on the Bombay Stock Exchange on Wednesday.
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