Adani Enterprises Launches QIP at ₹3,117 per Share

Adani Enterprises has initiated a qualified institutional placement offer at a floor price of ₹3,117 per share. The company may offer up to a 5% discount, with SBI Capital Markets Ltd, Jefferies India Pvt Ltd, and ICICI Securities Ltd leading the issuance. Cantor Fitzgerald & Co. serves as advisor.

Adani Enterprises announced the launch of a qualified institutional placement (QIP) offer on Wednesday, setting the floor price at ₹3,117 per share. The company's board authorized this issuance during a meeting held on the same day, as per an official release.

The statement further elaborated that the firm retains the option to provide a discount of up to 5% from the established floor price. As clarified, the 'Relevant Date' for the Issue aligns with October 9, 2024, in line with Regulation 171(b) of the SEBI ICDR Regulations. The floor price, calculated via the formula prescribed under Regulation 176(1) of the same regulations, stands at ₹3,117.4750 per Equity Share.

SBI Capital Markets Limited, Jefferies India Private Limited, and ICICI Securities Limited are appointed as the book-running lead managers, with Cantor Fitzgerald & Co. serving as advisors. The issue price is set to be finalized in consultation with the Book Running Lead Managers (BRLMs). The equity shares will not be registered under the U.S. Securities Act of 1933 and are not intended for public offering in the U.S.

(With inputs from agencies.)