Adani Enterprises’ Rs20,000-cr follow-on public offer comes out with 13 pc discount

New Delhi [India], January 19 (ANI): Adani Group’s flagship firm Adani Enterprises has filed a red herring prospectus with the markets regulator Securities and Exchange Board of India (Sebi) for the Rs20,000-crore follow-on public offer (FPO).

According to the statement shared with exchanges, the company has fixed the floor price for the FPO equity share at Rs 3,112 per share, 13 per cent discount from Wednesday’s closing of Rs 3,584.9 on NSE. The company said the cap price is fixed at Rs 3,276 with a minimum bid lot size of four shares and in multiple thereof for all categories of investors. This follow-on public offer (FPO) is a fresh issue of equity shares aggregating up to Rs 20,000 crore on a partly-paid basis and is said to be the largest for Indian markets recently.

According to the statement shared with exchanges on Wednesday, the FPO will open for subscription from January 27 to 31.