The Follow-on Public Offer (FPO) of Adani Enterprises Ltd is hitting the primary markets today, January 27, 2023. The Adani Enterprises FPO will remain open for subscription till January 31, 2023.
While in an initial public offering (IPO), a company that is not listed on the stock market raises capital from investors in the open market, in an FPO, a listed company raises capital from investors again by diluting its stake to shareholders in the open market.
The Adani Group company aims to raise ₹20,000 Crore from the Adani Enterprises FPO. The company said that it will use the net proceeds from this FPO for capital expenditure requirements of its subsidiaries and for repayment of debts.
The Adani Enterprises’ share price today is around ₹3,273 per share on the National Stock Exchange (NSE), while the price band for the Adani Enterprises FPO has been fixed at ₹3,112- ₹3,276 per share. Since the Adani Enterprises FPO is offered at a discount, investors who already have this stock in their portfolio can now add more shares of Adani Enterprises Ltd. in their portfolio at discounted prices, while those who do not own shares of this company can now add it to their portfolio with this follow-on offer at lower rates.
Important Adani Enterprises FPO Details
Adani Enterprises FPO Date: The Adani Enterprises FPO will open for subscription on January 27, 2023, and will close on January 31, 2023.
Adani Enterprises FPO Price Band: The Adani Enterprises FPO price band is ₹3,112- ₹3,276 per share.
Adani Enterprises FPO Size: Adani Enterprises Ltd. aims to raise ₹20,000 Crore from its FPO.
Adani Enterprises FPO Lot Size: The Adani Enterprises FPO lot size is 4 shares. So, an applicant can bid for a minimum of 4 Adani Enterprises shares and in multiples of 4 thereafter.
Adani Enterprises FPO GMP: The grey market sentiments for the Adani Enterprises FPO seem to be flat. As per market observers, the Adani Enterprises FPO GMP (grey market premium) today is ₹50.
Adani Enterprises FPO Registrar: Link Intime India Private Ltd. has been appointed as the official registrar of Adani Enterprises FPO.
Adani Enterprises FPO Allotment Date: The Adani Enterprises FPO share allotment date is expected to be on February 3, 2023.
Adani Enterprises FPO Listing Date: The fresh shares of the Adani Enterprises FPO are likely to list on BSE and NSE on February 8, 2023.
Disclaimer: The details have been recorded at the time of writing. These prices are liable to change and you are suggested to check the current rate before investing.
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