ADANI ENTERPRISE LIMITED FPO

Adani Enterprise Limited, Gautam Adani-led group’s flagship firm is all set to issue FPO, as announced by them via their board meeting dated 18.01.2023. This news is making rounds in the market, and rightly so.

FPO means a Follow-on Public offer, whereby a company which is already listed on the stock market issues more shares in the market, as a follow-up offer. It is similar to an IPO, except that it is not an ‘Initial’ offer but rather a ‘follow-on’ offer.

A company issues an FPO with an intention to raise more capital from the market and while doing so, it has to specify exactly where they intend to utilize these funds.

ABOUT ADANI ENTERPRISE’S FPO:

1. The Company is going to raise an amount of Rs. 20,000 crores through this FPO.
2. It intends to utilize these funds towards its Working capital requirement and also to pay off some of its debt.
3. The issue price of these shares will be between Rs. 3,112/- per share to Rs. 3,276/- pe share for all categories of investors.
4. The closing price of the shares of the company was Rs. 3,388.95/- on 25.01.2023. Thus, the shares will be issued at a discount in the FPO.
5. The FPO will open from 27.01.2023 to 31.01.2023.
6. The minimum bid lot is set at four FPO equity shares and investors can subscribe in lot of of four FPO equity shares.
7. AEL’s FPO will be the second largest FPO in India, after Coal India’s FPO of Rs. 22,558 crores in 2015.

This is a good opportunity for investors to grab the shares of Adani Enterprises at a lower rate than the current market rate. If these shares are allotted to you on application, it can turn out to be an amazing opportunity. To understand how the market works at such times and how to extract maximum benefit from the same, head on to Stakeindia.

Stakeindia is the oldest Stock Market/ Share Market Training Institute in Nashik, Maharashtra. The team of experts present here are always available for you to educate you financially and provide a number of financial services. Get in touch via email at stakeindiainstitute@gmail.com