Adani Enterprises, a part of the Adani Group, will issue FPO to raise a fund of about ₹20,000 crores.
Adani Enterprises submitted papers with the market regulator in November 2022 to raise fresh capital funding of ₹20,000 crores through preferential allotment and retail sale of shares. It will become the largest FPO by an Indian company.
The company plans to dilute a 3.5% stake through the FPO. Currently, the promoter’s group has a 72.63% stake in the firm. Life Insurance Corporation is one of the major stakeholders of the company.
Adani Enterprises FPO will go live on January 27, 2023. The subscription window will remain available for three days until January 31, 2023. The FPO shares have a face value of ₹1, but the Adani Enterprises FPO price band is yet to be declared.
Read in Detail: Adani Enterprises FPO