Adani Enterprises FPO

Last Updated: 01 February 2023 12:23 AM by rutuja_chachad

Adani Enterprises Ltd, Gautam Adani-led group's flagship firm, has announced an FPO worth Rs. 20,000 crores by selling shares in a business that has almost doubled in market value over the past year. The FPO opens on 27th January and closes on 31st January. The company has decided on a floor price of ₹3,112 per equity share and the cap price has been fixed at ₹3,276 per share for all categories of investors.

The company is offering discounts of 10-15% to investors and has also approved a discount of ₹64 per share in the FPO for retail investors bidding in the retail portion of the offer. A retail-individual investor can apply for up to 15 lots (60 shares or ₹196,560).

The lot size is fixed at 4 shares per lot. The issue will be listed on NSE/BSE platform on 8th February while the shares will be allotted on 3rd February. 

The AEL FPO offers comes amid some concerns about Adani group's elevated debt levels and large promoter shareholding.

ICICI Securities, Jefferies India Pvt. Ltd., SBI Capital Markets ltd., Axis Capital Ltd., BOB Capital Markets Ltd., IDBI Capital Market Services Ltd., JM Financials Ltd., IIFL Securities Ltd., Monarch Networth Ltd., Elara Capital Pvt. Ltd. are the lead managers to the issue. 

Objective of the Adani Enterprises FPO

The Company proposes to utilize the Net Proceeds towards funding of the following objects:

•    Rs 10,869 crore will be used for funding capital expenditure requirements of some of the Subsidiaries in relation to (a) certain projects of the green hydrogen ecosystem; improvement works of certain existing airport facilities; and construction of greenfield expressway
•    Rs. 4,165 crores will be used for repayment, in full or part, of certain borrowings of the company and three of its subsidiaries, namely, Adani Airport Holding Limited, Adani Road Transport Limited, and Mundra Solar Limited
•    General corporate purposes

Adani Enterprises FPO Video

Adani Enterprise is one of India’s biggest conglomerates with businesses in multiple segments. Over the decades of its operations, the Group has established unicorns like Adani Power, Adani Ports & SEZ, Adani Transmission, Adani Green Energy, and Adani Total Gas. The endeavors of the companies are highly driven toward making India a self-reliant country.

The businesses of Adani Group include-

1.    Mining Services
2.    Edible Oil & Foods
3.    Water
4.    Data Center
5.    Integrated Resource Management
6.    Agro
7.    Solar Manufacturing
8.    Defence & Aerospace
9.    Airports
10.    Roads, Metro & Rail

AEL operates and manages seven operational airports across the cities of Mumbai, Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram, and one greenfield airport in Navi Mumbai. 
 

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