Adani Enterprises Files Papers For Rs 20,000-Crore FPO With SEBI

Adani Enterprises Ltd. has filed documents with the Securities and Exchange Board of India for its Rs 20,000 crore follow-on public offering.

The open offer by the ports-to-green hydrogen conglomerate incubator will open on Jan. 27 and close on Jan. 31. The anchor investor bid date has been set for Jan. 25. Shares will be issued on a partly paid basis.

According to the filing, the Gautam Adani-led firm will use the proceeds from the FPO to repay debt worth Rs 4,165 crore for itself and its units. It will utilise around Rs 10,869 crore for capital expenditure in the group's airport and green energy projects. The rest will be deployed for general corporate purposes.

Retail investors may also be offered a discount, according to the red herring prospectus.

The filing with the markets regulator comes roughly two months after the company's board approved the proposal to raise funds through a fresh issue of equity shares on Nov. 25.

Adani Enterprises' public offering of Rs 20,000 crore will be the country’s biggest FPO yet.

So far, Yes Bank Ltd. holds the record for the largest-ever FPO. In July 2020, the lender mopped up Rs 15,000 crore via FPO to meet its capital requirements.

Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.