Adani Enterprises’ Rs 20,000 crore FPO to open on January 27, price band announced
Adani Enterprises Limited on Wednesday said that the price band for the Rs 20,000-crore follow-on public offer (FPO) will be at Rs 3,112-3,276/share. At the lower end of the price band, the shares are being offered at a discount of 13.5% to the current market price.
Shares of the Adani Group’s flagship company ended at Rs 3,596.70 on the National Stock Exchange (NSE), down 1.2% from the previous close. Retail investors will be offered a discount of Rs 64 per share in the FPO.
The minimum bid lot in FPO is 4 shares, and in the multiples of 4 shares thereafter.
The FPO will open for subscription on Jan 27 and close on Jan 31. The company will issue fresh shares on a partly-paid basis under a 100% book-built offer.
