Adani Enterprises FPO will open today, know price band, GMP and listing date

Adani Enterprises FPO: The Follow-on Public Offer (FPO) of Adani Enterprises is opening from today. Adani Enterprises is all set to raise Rs 20,000 crore through the largest FPO in the history of the Indian stock market. The follow-on public offer of Adani Enterprises of Adani Group will open from today till January 31 and investors will be able to apply in its FPO.

Adani Enterprises FPO price band and other details

Adani Enterprises is going to raise Rs 20,000 crore from the market through FPO. Shares will be issued to retail investors at a discount. Adani Enterprises has fixed the price band of the FPO at Rs 3112 to Rs 3276 per share. A discount of 13.5 per cent is being given on the company’s stock on the lower band. While retail investors will be given a separate discount of Rs.64.

GMP of Adani Enterprises Shares

The gray market premium of Adani Enterprises shares was Rs 45 yesterday, which is Rs 55 less than its Wednesday’s GMP. The GMP of the company’s shares was at Rs 100 on Wednesday.

35% quota reserved for retail investors

Has applied in FPO of Adani Enterprises on 25 January 2023. The company will issue shares on a partially paid basis. The company may ask the retail investors who will be allotted shares in the FPO of Adani Enterprises to pay the amount in two or three installments. 35 percent quota in FPO will be reserved for retail investors.

When can the allotment of shares of the company be done?

The allotment of shares of Adani Enterprises is expected to happen on February 3. The listing of its shares will be on both NSE and BSE and the date of listing is expected to be 8 February.

Why is the company raising money

Out of the amount raised through FPO, Rs 4170 crore will be used to repay the loan. Along with this, the company will spend the remaining amount on its expansion plan. After the FPO of Adani Enterprises, the promoters’ stake in the company will come down by 3.5 per cent.

According to the September 2022 data, the promoters’ stake in the company was 72.63 per cent. LIC holds 4.03 per cent stake. Apart from this, Nomura Singapore, APMS Investment Fund, Elara India Opportunities Fund have a stake of around 1 to 2 per cent in the company.

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