Adani Enterprises FPO: Adani Group’s multibagger stock Adani Enterprises’ follow-on offer will open on January 27, 2023 and investors will be able to apply in the FPO till January 31. Adani Enterprises is going to launch the biggest FPO in the history of the Indian stock market. The company is going to raise Rs 20,000 crore from the market through FPO.
Anchor investors will be able to apply in the FPO of Adani Enterprises on January 25, 2023. The company will issue shares on Partly Paid Basis. The company may ask the retail investors who will be allotted shares in the FPO of Adani Enterprises to pay the amount in two or three installments. The same happened in the rights issue of Reliance Industries. 35 percent quota in FPO will be reserved for retail investors. Shares will be issued to retail investors at a discount.
Out of the amount raised through FPO, Rs 4170 crore will be used to repay the loan. Along with this, the company will spend the remaining amount on its expansion plan. After the FPO of Adani Enterprises, the promoters’ stake in the company will come down by 3.5 per cent. According to the September 2022 data, the promoters’ stake in the company was 72.63 per cent. LIC holds 4.03 per cent stake. Apart from this, Nomura Singapore, APMS Investment Fund, Elara India Opportunities Fund have a stake of around 1 to 2 per cent in the company. Big foreign investors are preparing to invest in the follow-on offer of Adani Enterprises, which includes the International Holding Company of the United Arab Emirates, Abu Dhabi Investment Authority, Qatar Investment Authority.
After this news came to the fore, pressure is being seen on the stock of Adani Enterprises in Wednesday’s trading session. The stock is trading at Rs 3593 with a decline of 1.27 per cent. However, in recent years Adani Enterprises is one of the biggest multibagger stocks in the market which has given up to 16 times return to investors.