Adani Enterprises' QIP sees healthy demand, Rs 4,200 crore raised through issue
Adani Enterprises has successfully completed the qualified institutional placement (QIP), raising nearly Rs 4200 crore. The company has allocated 1.41 crore shares at an issue price of Rs 2,962 apiece.
The transaction was launched post-market hours on October 9 with a deal size of Rs 4,200 crores ($500 million) and closed on October 15.
«The QIP saw overwhelming demand, receiving bids of over 4.2x of the deal size from a diverse group of investors, including global long-only investors, major Indian mutual funds, and insurance companies,» the company said in a release.
This milestone underscores Adani Enterprises' position as India’s largest listed incubator of scalable and large businesses in core infrastructure which addresses the needs of India.
The company's current incubation portfolio includes airports and roads in the transport and logistics sector, new energy ecosystem (including solar and wind manufacturing) and data centres in the energy and utility sector.
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