Adani Enterprises Set for Rs 4,200 Crore Share Sale

Adani Enterprises Ltd has approved a Rs 4,200 crore share sale through a qualified institutional placement (QIP) issue. The company has set the floor price at Rs 3,117.4750 per share and may offer a 5% discount. This strategic move aims to raise capital, facilitated by prominent financial managers.

Adani Enterprises Ltd, a key player in billionaire Gautam Adani's industrial empire, has taken a significant step by approving a Rs 4,200 crore share sale via a qualified institutional placement (QIP) issue. This decision marks a strategic move to bolster the company's capital.

In an official regulatory document, Adani Enterprises announced that the board has established a floor price of Rs 3,117.4750 per equity share for this issue. The initiative opens on Wednesday, with the company having the option to offer a discount of up to 5% on the floor price, making it an attractive proposition for large investors.

Prominent financial entities, including SBI Capital Markets Limited, Jefferies India Private Limited, and ICICI Securities Limited, have been designated as the book-running lead managers. Additionally, Cantor Fitzgerald & Co. has been appointed as an advisor, signaling a robust management team behind the initiative.

(With inputs from agencies.)