Adani Enterprises Ltd on Wednesday said its Rs 20,000 crore follow-on public offer (FPO) will open for subscription on January 27 and has set the price band for it at Rs 3,112-3,726 per equity share.
At the lower end of the band, the shares are being offered at a discount of 13.44 per cent when compared to Wednesday’s closing price of Rs 3,595.35 a share on BSE.
Of the total fund raised from the FPO, the company will invest Rs 10,869 crore in capital expenditure for green hydrogen system, airports and construction of greenfield expressway. It will also use another Rs 4,165 crore for repayment of debt of its three subsidiaries – Adani Airport Holdings Ltd, Adani Road Transport Ltd, and Mundra Solar Ltd, according to the prospectus filed in BSE.
