Budget 2023 Adani Group FPO Adani Enterprises Follow-on Public Offer

Adani Enterprises FPO Price : The world’s third richest Gautam Adani is going to bring his company’s follow-on offer (FPO) to the market soon. Adani Enterprises is the flagship company of the Adani Group that brings FPO. This group is bringing the biggest FPO in the country so far. Adani Enterprises is planning to bring an FPO of around Rs 20,000 crore. Its official date has not yet come from the company.

expected before the budget

The next general budget of the country (Union Budget 2023) is going to come on February 1, 2023. Union Finance Minister Nirmala Sitharaman will present this budget (Budget 2023) in the Parliament. According to media reports, the FPO of Adani Enterprises may come in the market even before the budget. Adani Group is working fast on this.

Target to raise 20,000 crores

Adani Group has received good response from global investors. After which the group has special hopes from the investors. This is the first FPO of this company of Adani Group, in which it is planned to issue partial shares. A plan has been prepared for AIL to raise Rs 20,000 crore in several phases. AIL is targeting to raise such a huge amount in two instalments.

FPO was brought by RIL

Whenever there will be a discussion about the biggest FPO in the country. Then the FPOs of Reliance Industries (RIL) and Adani Group (AIL) will be discussed. Adani Group (AIL) is also bringing its FPO to the market on the lines of Reliance Industries (RIL). It is known that in the year 2020, RIL had brought a mega rights issue of Rs 53,124 crore. RIL raised only 25 per cent each in the first and second rounds, and the remaining 50 per cent was raised over a period of 18 months.

Investors will get discount

According to reports, the company can raise money from retail investors in the FPO in two phases. That is, investors will have to pay in two to three call options. But the company has not yet taken any decision regarding this. In this FPO, 35 percent quota will be reserved for retail investors. Means shares worth 7,000 crores will be allotted to retail investors.

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