Adani Enterprises Ltd (AEL), the flagship company of the Adani group, on Wednesday announced a price band of Rs 3,112-3,276 per share for the country’s largest follow-on public offering (FPO), with a discount of Rs 64 per share to retail investors.
AEL is planning to raise Rs 20,000 crore from the float which will open for subscription on January 27 and close on January 31.
Investors will have to bid for a minimum lot of four shares and in multiples thereafter. On application, the bidders will have to pay 50 per cent of the offer price upfront.
