Adani Enterprises FPO open, should you subscribe?

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January 27, 2023
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Adani Enterprises FPO opens today and the company is planning to raise Rs 20,000 crore. The funds will be utilised for several projects including green hydrogen ecosystem and construction of greenfield expressway.

Adani Group

Adani Enterprises is set to open its follow-on public offer for subscription on January 27 with the closing date scheduled on January 31. The price band for the offer is Rs 3,112-3,276 per share. Retail shareholders have a 35 percent reservation in the FPO and a discount of Rs 64 per share.

Investors can bid for a lot of minimum 4 shares and in multiples of 4 thereafter. The Adani Group company is planning to raise Rs 20,000 crore via the largest ever FPO in the Indian capital markets history.

The funds will be utilised for projects of the green hydrogen ecosystem, improvement of certain existing airport facilities and construction of greenfield expressway.

On January 25, the company said it has raised close to Rs 6,000 crore from anchor investors.

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