Stock to Watch: Adani Enterprises shares in spotlight after raising Rs 4,200 crore via QIP
Adani Enterprises are expected to remain in focus on Friday after the company successfully raised Rs 4,200 crore in a share sale to investors via a qualified institutional placement (QIP).
The company has allocated 1.41 crore shares at an issue price of Rs 2,962 each.
The transaction, which was initiated after market hours on October 9 and valued at Rs 4,200 crores ($500 million), closed on October 15.
«The QIP generated strong demand, attracting bids over 4.2 times the deal size from a diverse group of investors, including global long-only investors, major Indian mutual funds, and insurance companies,» the company stated in a release.
This achievement highlights Adani Enterprises' role as India’s largest publicly listed incubator for scalable and large-scale businesses in core infrastructure, addressing the country's needs.
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