Adani Enterprises FPO Date, Price, Company Profile, Latest News can be checked from the official website and this page. According to a report in the Economic Times, the business has recruited ICICI Securities and Jefferies to raise capital via an FPO.
Adani Enterprises FPO Date
An FPO is a method that listed firms use to diversify their equity holdings by selling shares to the general public. Earlier on, many market players voiced their worries regarding the small number of public shareholders present in certain firms belonging to the group. Let’s look at Adani Enterprises FPO Date, Price, Company Profile, and Latest News.
The board approved a Adani Enterprises FPO Date for Rs 20,000 crore of directors of Adani Enterprises, the parent company of the Adani group, it got announced on Friday. It will be the nation’s most extensive follow-public offering (FPO), breaking the record formerly held by YES Bank, which raised Rs 15,000 crore in July 2020.
Adani Enterprises disclosed to the stock markets that it would seek permission from shareholders through a postal vote, and the stock exchanges received this information. The follow-on public offering (FPO) will have a face value of one rupee for each share. In 2022, this would be the organization’s second attempt to gather money from the general public. The follow-on public offering (FPO) that Adani Wilmar presented was for 3,600 crores of Indian rupees and took place in January.
Adani Enterprises FPO Price
Adani Enterprises gave the go-ahead on Friday for a further public offering (FPO) of equity shares of the business with a total value of Rs 20,000 crore. It would help fuel the ambitious development strategy of billionaire Gautam Adani.
It got resolved during a board meeting of the firm that was held on Friday at Ahmedabad to examine the fund-raising exercise that the company will raise money through FPO via a new issuance of equity shares. The total amount that may get raised is up to Rs 20,000 crore.
Adani Enterprises FPO Company Profile
Through a new offering of shares, Adani Enterprises, the flagship company of the Adani Group, would raise a total of 20,000 billion rupees. It would make its follow-on public offer (FPO) the biggest in India, easily surpassing the previous record of Rs 15,000 crores established by Yes Bank’s FPO in July 2020. Adani Enterprises can enhance its balance sheet and finance new projects with the assistance of the fund-raising campaign that will get initiated during this fiscal year. Significantly, the FPO is the process by which additional shares will broaden the firm’s shareholder base, resulting in increased trading liquidity for the company.
The flagship promoters, including the billionaire Gautam Adani and his family, control around 73% of the company, while the public retains the remaining 27%. However, within the public shareholder group, several investment funds in Mauritius have held Adani Enterprises shares for years, leaving just a limited number of shares with retail investors. Those investment firms are in Mauritius. LIC, an institutional investor, is the most significant stakeholder in the firm that is not the company’s promoter. LIC owns around 4% of the company.
Adani Enterprises Latest News
The board of Gautam Adani’s main business, Adani Enterprises Ltd, authorized on Friday funding up to 20,000 crores via a Adani Enterprises FPO Date. According to a stock market filing, the business will mail-ballot shareholders’ approval for the share transaction. If Adani Enterprises successfully raises the whole 20,000 crores, the share sale would be the largest FPO the nation has ever seen. That distinction is held by Yes Bank, which in July 2020 raised $15,000 crore via an FPO.
According to a Mint story from November 24, the money to be mobilized from the FPO would assist finance the group’s entry into green and digital companies and supply the majority of the equity needed for its development goals for the next three to five years.
In September, the second-richest person in the world, Adani, said his company would spend $100 billion over the next ten years, especially in digital and energy potential and industries including aerospace and defense, metals, and petrochemicals. Of this, the energy transition will get 70% of the funds. Adani outlined the objectives of his organization and said, “It is our resolve to spend $70 billion in an integrated hydrogen-based value chain.”
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