The price band has been fixed at Rs 3,112-3,276 per share, indicating a discount of 15 percent at the lower end to 18 January’s market close. Rs 64 discount has also been offered to retail individual investors. Retail investors can bid for a lot of four shares and in the multiple of 4 FPO equity shares thereafter.
The Rs 20,000-crore follow-on public issue of Adani Enterprises Ltd will open on January 27 and close on January 31, while bidding by anchor investors will start on January 25, according to the company’s red herring prospectus. The price band has been fixed at Rs 3,112-3,276 per share, indicating a discount of 15 percent at the lower end to 18 January’s market close. Rs 64 discount has also been offered to retail individual investors. Retail investors can bid for a lot of four shares and in the multiple of 4 FPO equity shares thereafter.
Around Rs, 10,869 crores out of the Rs 20,000-crore issue will be used for funding capital expenditure requirements of its subsidiaries in relation to certain projects of the green hydrogen ecosystem, improvement works of certain existing airport facilities, and construction of greenfield expressway.
The firm will also use Rs 4,165 crore for repayment of certain borrowings of the firm and its three arms – Adani Airport Holdings Ltd, Adani Road Transport Ltd, and Mundra Solar Ltd. As of September 2022, total debt of Adani Enterprises stood at Rs 40,023.50 crore.
Some of Adani Group’s strategic equity partners, including the International Holding Company (IHC) from the UAE and other sovereign wealth funds and financial institutions, maybe reportedly among the largest buyers in the issue.
