Gautam Adani is giving 10 to 15% discount in the biggest FPO share sale in India, know when the subscription will open
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New Delhi : Adani Enterprises Limited (AEL), owned by India’s richest industrialist Gautam Adani, is offering a discount of about 10 to 15 per cent in the country’s largest follow-on public offering (FPO) share sale. According to media reports, Adani Enterprises Limited (AEL) on Wednesday filed an offer letter with the stock exchanges for a follow-on public offering (FPO) of Rs 20,000 crore. AEL is the flagship company of the group headed by billionaire industrialist Gautam Adani.
FPO will open on 27 January
According to the offer letter of AEL, the FPO of AEL will open on January 27 and close on January 31. Under the FPO, the company has fixed a price range of Rs 3,112 to Rs 3,276 per share for the sale of shares. The offer price is lower than Wednesday’s closing price of Rs 3,595.35 on the BSE. Of the Rs 20,000 crore raised from the FPO, Rs 10,869 crore will be used for green hydrogen projects, development of existing airports and construction of new expressways. Apart from this, Rs 4,165 crore will be used to repay loans taken by subsidiaries of airports, roads and solar projects.
Adani dominates in four major industry sectors
Explain that Gautam Adani (60), one of India’s richest entrepreneurs, started as a businessman and today his business has spread to ports, coal mining, airports, data centers and cement as well as green energy. AEL is India’s largest listed business incubator and is involved in four major industry sectors Energy & Utilities, Transport & Logistics, Consumer and Primary Industries.
AEL has a debt of more than 40 thousand crores
AEL said that we have helped in setting up new business for Adani Group in the last few years. Developed them as a large and self-sustaining business segment and later separated them as an independent listed platform. The company’s current portfolio includes a green hydrogen ecosystem, data centres, airports, roads, food FMCG, digital, mining, defense and industrial manufacturing. The company is taking advantage of new opportunities, including green hydrogen, the aviation sector and data centers. AEL’s debt stood at Rs 40,023.50 crore as on September 30, 2022.
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