Adani Enterprises Ltd. – FPO to open on January 27

Adani Group
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The Price Band is for a full FPO Equity Share of face value Rs 1 each, of which 50% of the amount is payable at the time of the Application and balance amount will be paid in one or more subsequent Call(s) as determined by the Company’s Board of Directors or a duly authorised committee thereof at its sole discretion, from time to time. It constitutes 50% of the Floor/ Cap Price. A discount of Rs 64 per FPO Equity Share is being offered for Retail Individual Bidders Bidding in the Retail Portion of the Offer.

  • Price Band fixed from ₹ 3,112 to ₹ 3,276 per Equity Share of face value of ₹ 1 each
  • Offer will close on Tuesday, January 31, 2023
  • Bids can be made for a minimum of 4 FPO Equity Shares and in multiples
 Payment Schedule for FPO Equity Shares 
  At Floor Price (Rs)  At Cap Price (Rs) 
On Application  1,556 1,638
One or more subsequent call(s)  1,556 1,638
Total (`)  3,112 3,276

 

Adani Enterprises Limited proposes to open on Friday, January 27, 2023, its further public offering aggregating up to ₹ 20,000 crore issued on a partly paid basis. The FPO comprises partly paid-up equity shares of face value of ₹ 1 each of the Company for cash at a price# (including a premium) per FPO equity share by way of a fresh issue. The Offer includes a reservation of FPO equity shares aggregating up to ₹ 50 crore for subscription by eligible employees not exceeding 5% of the post-Offer paid-up equity capitalA discount of Rs 64 per FPO Equity Share is being offered for Retail Individual Bidders Bidding in the Retail Portion of the Offer. 

The Price Band for the FPO Offer has been fixed from ₹ 3,112 to ₹ 3,276 per FPO Equity Share. Bids can be made for a minimum of 4 FPO Equity Shares and in multiples of 4 FPO Equity Shares thereafter. The Anchor Investor Bidding Date shall be one Working Day prior to the Bid/Offer Opening Date. The FPO Offer will close on Tuesday January 31, 2023. UPI mandate end time and date shall be at 5.00 p.m. on the Bid/ Offer Closing Date. The Retail Portion of the offer will be at a discount of ₹ 64 per FPO Equity Share for retail investors and such discount should be considered as part of the red herring prospectus dated January 18, 2023 and should be read in conjunction with the RHP.

Adani Enterprises proposes to utilise ₹10,869 crore of the Net Proceeds of the FPO towards funding capital expenditure requirements of some 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. Adani Enterprises also proposes to utilise ₹ 4,165 crore to repay in full or part, certain borrowings of the Company and three of its subsidiaries, namely, Adani Airport Holding Limited, Adani Road Transport Limited, and Mundra Solar Limited. The rest will be utilised towards general corporate purposes.

The FPO Equity Shares offered through this Red Herring Prospectus are proposed to be listed on the Stock Exchanges. The FPO Equity Shares offered through the RHP are proposed to be listed on BSE and NSE.

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IE&M Team
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