Adani Enterprises FPO: This week there is a big earning opportunity in Adani’s company, know these 10 things before investing money – important information related to fpo of adani enterprises

Shares will be available at a discount of up to 10%

On Friday, the last trading day of last week, the stock of Adani Enterprises closed at Rs 3,456.40 with a slight decline. The market capitalization of Adani Enterprises is around Rs 3,94,029.99 crore. The price band in this FPO is at a discount of 5 to 10 per cent to the closing price of the shares on Friday. The Adani Group is raising money through the FPO at a time when concerns are being raised over the group’s debt and large promoter shareholding. Sometime back, Fitch Group’s debt research firm CreditSights had said that it would continue to look for strategic equity partners even as Adani Group raised concerns over its debt. Adani’s net external debt as on September 30, 2022 was approximately Rs 33,517 crore. Let us know 10 important things about Adani Enterprises FPO.

1. A total of 6,47,38,475 equity shares will be offered to investors under the FPO of Adani Enterprises. The minimum bid lot has been fixed at four FPO equity shares and in multiples of four FPO equity shares thereafter.

2. The floor price for FPOs has been fixed at a minimum of ₹3,112 per FPO equity share and the cap price for all categories of investors is ₹3,276 per FPO equity share.

3. Adani has also announced a discount of ₹64 per FPO equity share for retail investors bidding under the retail portion of the issue.

4. The bidding for the FPO for anchor investors will open on January 25. While the bid for the rest of the investors including retail investors will open on January 27. The last date of the offer has been fixed as 31st January.

5. Adani’s FPO committee is scheduled to meet on January 25 to decide on the allotment of equity shares to the successful anchor investors in the issue and determination of the anchor investor allotment price. Further, the committee will meet on February 1 for approval of the offer price prospectus.

6. It is believed that the allotment, refund, demat allotment and listing under the offer are expected to take place between February 3 and February 8.

7. If this FPO is fully subscribed, it will become the second largest follow-on public offering in India after Coal India’s Rs 22,558 crore issue in 2015. Earlier in 2020, Yes Bank launched an FPO of Rs 15,000 crore. ,

8. The book-running lead managers to the FPO are Axis Capital, ICICI Securities, Jefferies India, SBI Capital Markets, BOB Capital Markets, IDBI Capital Markets & Securities, JM Financial, IIFL Securities, Monarch Networth Capital and Elara Capital (India). While Axis Bank and ICICI Bank are the sponsor banks for this offer. Whereas, Link Intime India is the registrar.

9. Adani’s board had in November last year approved the decision to raise funds up to ₹20,000 crore via FPO. The board had planned to sell 3.5% stake through FPO. Presently the shareholding of the promoter group is 72.63% or 82,79,49,621 equity shares in the company. While public shareholders hold 27.36% stake in the company.

10. The massive share sale by Adani is expected to help the group meet multiple targets. Adani can use a part of the amount raised to reduce debt and meet capital expenditure requirements.