Adani Enterprises set to raise up to $2 billion through a QIP next week
Adani Enterprises is likely to raise up to $2 billion through a qualified institutional placement (QIP) by the middle of next week, sources aware of the development said.
Meanwhile, the Adani Group along with Wilmar will also launch the sale of around a 13% stake in Adani Wilmar by the end of this month or early in November, to cut down the promoter stake in the company to comply with listing regulations, sources said.
Adani Enterprises — the flagship company of the Adani Group — has already garnered a soft book of nearly $2 billion for the QIP from large US, European, Middle Eastern and Indian investors. The issue will be split into a base offer of $1.25 billion, with an additional green shoe option for $750 million.
Jefferies, ICICI Securities and SBI Capital have been appointed for this issue. The Adani Group did not respond to email queries.
In May this year, the company's board had approved raising of up to ₹16,600 crore through a public sale of shares to institutional investors, in one or more tranches.
Stock Trading
Market 101: An Insight into Trendlines and Momentum
By — Rohit Srivastava, Founder- Indiacharts.com
Stock Trading
Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading
By — Rohit Srivastava, Founder- Indiacharts.com
Stock Trading
Market 103: Mastering Trends with RMI and Techno-Funda Insights
By — Rohit Srivastava, Founder- Indiacharts.com
Stock Trading
Market 104: Options Trading: Kickstart Your F&O Adventure
By — Saketh R, Founder- QuickAlpha, Full Time Options Trader
Stock
