Adani Enterprises files offer letter for FPO worth Rs20,000 crore

17 Jan 2023 , 09:37 AM

As per the sources, Adani Enterprises, the flagship company of the Adani Group, filed an offer letter with stock exchanges on Monday for a proposed Rs20,000 crore follow-on public offer (FPO). 

According to the sources, the company is considering launching the public offering in the last week of January.

Adani Enterprises announced a follow-up share sale in late November. Some experts are of the view that the company could raise money in the FPO by issuing partly paid-up shares.

According to one source, the company may offer a discount to retail investors in the FPO. The stock has a 94% success rate in the last one year and 1,760% in the last five years.

Jefferies, ICICI Securities, SBI Capital, Bank of Baroda Capital, JM Financial, and Elara Capital, among others, have been appointed as issue bankers by Adani Enterprises.

The FPO could result in a 3.5% drop in the stakes of promoters led by Gautam Adani. The promoters owned a 72.63% stake in Adani Enterprises as of September 2022, with the remaining 27.37% held by public shareholders.

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