Gautam Adani’s flagship will offer large investors discounts of as much as 10% in India’s biggest follow-on share sale, according to people with knowledge of the matter, as the billionaire tries to woo a wider set of backers.
Concessions to retail purchasers could be steeper, the people said, asking not to be identified as the details are private. Adani Enterprises Ltd. is seeking to raise 200 billion rupees ($2.5 billion) by selling shares in a business that has almost doubled in market value over the past year.
Roughly half the money will go toward expanding Adani’s airport and renewable energy projects, while some 42 billion rupees — a little less than a quarter of the amount raised — will be used to pare debt,
