Adani Enterprises Concludes Successful $500 Million Equity QIP

Adani Enterprises Limited has completed a qualified institutional placement of equity shares, raising approximately Rs 4,200 crores. The placement saw high demand, with bids exceeding the offering size by 4.2 times. Funds will support capital expenditure and debt repayment in line with AEL's strategic growth objectives.

Adani Enterprises Limited announced on Thursday the successful completion of its qualified institutional placement (QIP) of equity shares, a move that has raised around Rs 4,200 crores, equivalent to USD 500 million. The QIP involved the allocation of 1,41,79,608 equity shares at Rs 2,962 each.

The transaction was launched after market hours on October 9, 2024, and concluded on October 15, 2024. It witnessed robust investor interest, with bids reaching 4.2 times the initial deal size. Investors included global long-only funds, key Indian mutual funds, and insurance firms.

This capital influx reinforces AEL's stance as a major player in India's infrastructure sector, addressing essential needs in transport, energy, and utility spaces. The funds will be directed towards capital expenditure, debt servicing, and general corporate purposes.

(With inputs from agencies.)