Adani enterprises fpo news

Uptake from retail investors was notably weak, with a large portion of the offering taken up by institutions and existing shareholders including Abu Dhabi’s International Holding Co. Market values of Adani’s listed companies plunged after Hindenburg's allegations. Adani has denied the short seller’s allegations and threatened legal action against the US-based firm. NIIs put in bids for over three times the 96.16 lakh shares reserved for them. Around 1.28 crore shares reserved for qualified institutional buyers, or QIBs, was almost fully subscribed, according to the data. The employee quota attracted 55 per cent bids, while retail investors bid for only 12 per cent of their category, despite additional discounts, impeding Adani's plans to expand his shareholder base and invite "the average, normal Indian mom and dad as shareholders". Why the FPO is critical for Adani? The FPO is critical for Asia's richest man, not just because it will help cut the group's debt, but because its success will be seen as a mark of investor confidence as he faces one of his biggest business and reputational challenges. A follow-on public offering (FPO) is the issuance of shares to investors by a company listed on a stock exchange after its initial public offerings. There were concerns that the FPO may not receive a strong response from investors amid the Hindenburg Research report, which claimed the Among the most notable buyers is Abu Dhabi’s International Holding Co, which said it will invest...

“We wish to inform you that the board of directors of the Company, at its meeting held today, i.e. 25th November 2022, has approved: (i) raising of funds by way of a further public offering through a fresh issue of Equity Shares by the Company aggregating up to Rs 20,000 Crore; and (ii) to seek approval of the shareholders for the aforesaid issuance by way of postal ballot process,” the company said in an exchange filing. An FPO will also allow the company to increase its public float of shares, and bring it at par with other companies of similar size such as Reliance Industries and Tata Consultancy Services (TCS). The market capitalisation of billionaire Gautam Adani's company as of Friday's market close was at Rs 4.44 lakh crore.

Adani Enterprises FPO: Amid bloodbath on Dalal Street and Hindenburg Research report raising concern over debt positions of Adani group companies, the follow-on public offer (FPO) of Adani Enterprises Ltd opened for subscription on Friday. After day one of bidding the follow-on offer has been subscribed just 0.01 times whereas its retail portion got subscribed 0.02 times. Meanwhile, grey market mood is also not encouraging for the company and its promoters. Kya Lagta hai in हिंदी । EP 6 :Adani Nifty & Markets. What next? Kya Lagta Hai? "Much depends upon Monday opening as ₹2,800 apiece, which is higher than Adani Enterprises share price today. If there is bounce back in Adani Enterprises share price on Monday, then in that case the follow-on issue may attract investors otherwise even decreasing the FPO price won't be a handy instrument for the company promoters," said Avinash Gorakshkar, Head of Research at Profitmart. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

Capital Expenditure: Of the total fund raised from the FPO, the company has proposed to invest Rs 10,869 crore in capital expenditure for green hydrogen systems , Debt repayment: The Gautam Adani-led company plans to utilise another Rs 4,165 crore for repayment of loans availed by its subsidiaries, Adani Airport Holdings Ltd, Adani Road Transport Ltd, and Mundra Solar Ltd. What is the FPO price band? The company has fixed the floor price of the FPO at Rs 3,112 per equity share, a 13% discount from last Wednesday’s closing price of Rs 3,595.35 apiece on BSE. The price band of the issue has been set at Rs 3,112-3,276 per share. On the following Thursday, the company’s scrip, which shot up by 126 % in the last year, fell 3.72% at Rs 3,461.6 on the BSE, facing selling pressure from investors who were worried over the high pricing of the FPO. Click here for more How has the stock price behaved? Over the last eight trading sessions, the share price of Adani enterprises has declined by around 10%, and over the past one month, as of mid-January 2023, it has fallen over 16%. Market experts say that since the FPO will come at a discount to the current trading price, the share prices have fallen in anticipation of the same. Also Read | While the FPO size is huge, leading brokerage houses feel that the FPO may get subscribed fully despite a weak secondary market condition, as the company has generated return for investors in the past and there is interest among foreign investors towar...

Uptake from retail investors was notably weak, with a large portion of the offering taken up by institutions and existing shareholders including Abu Dhabi’s International Holding Co. Market values of Adani’s listed companies plunged after Hindenburg's allegations. Adani has denied the short seller’s allegations and threatened legal action against the US-based firm. NIIs put in bids for over three times the 96.16 lakh shares reserved for them. Around 1.28 crore shares reserved for qualified institutional buyers, or QIBs, was almost fully subscribed, according to the data. The employee quota attracted 55 per cent bids, while retail investors bid for only 12 per cent of their category, despite additional discounts, impeding Adani's plans to expand his shareholder base and invite "the average, normal Indian mom and dad as shareholders". Why the FPO is critical for Adani? The FPO is critical for Asia's richest man, not just because it will help cut the group's debt, but because its success will be seen as a mark of investor confidence as he faces one of his biggest business and reputational challenges. A follow-on public offering (FPO) is the issuance of shares to investors by a company listed on a stock exchange after its initial public offerings. There were concerns that the FPO may not receive a strong response from investors amid the Hindenburg Research report, which claimed the Among the most notable buyers is Abu Dhabi’s International Holding Co, which said it will invest...

Adani Enterprises FPO: Amid bloodbath on Dalal Street and Hindenburg Research report raising concern over debt positions of Adani group companies, the follow-on public offer (FPO) of Adani Enterprises Ltd opened for subscription on Friday. After day one of bidding the follow-on offer has been subscribed just 0.01 times whereas its retail portion got subscribed 0.02 times. Meanwhile, grey market mood is also not encouraging for the company and its promoters. Kya Lagta hai in हिंदी । EP 6 :Adani Nifty & Markets. What next? Kya Lagta Hai? "Much depends upon Monday opening as ₹2,800 apiece, which is higher than Adani Enterprises share price today. If there is bounce back in Adani Enterprises share price on Monday, then in that case the follow-on issue may attract investors otherwise even decreasing the FPO price won't be a handy instrument for the company promoters," said Avinash Gorakshkar, Head of Research at Profitmart. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

“We wish to inform you that the board of directors of the Company, at its meeting held today, i.e. 25th November 2022, has approved: (i) raising of funds by way of a further public offering through a fresh issue of Equity Shares by the Company aggregating up to Rs 20,000 Crore; and (ii) to seek approval of the shareholders for the aforesaid issuance by way of postal ballot process,” the company said in an exchange filing. An FPO will also allow the company to increase its public float of shares, and bring it at par with other companies of similar size such as Reliance Industries and Tata Consultancy Services (TCS). The market capitalisation of billionaire Gautam Adani's company as of Friday's market close was at Rs 4.44 lakh crore.

Capital Expenditure: Of the total fund raised from the FPO, the company has proposed to invest Rs 10,869 crore in capital expenditure for green hydrogen systems , Debt repayment: The Gautam Adani-led company plans to utilise another Rs 4,165 crore for repayment of loans availed by its subsidiaries, Adani Airport Holdings Ltd, Adani Road Transport Ltd, and Mundra Solar Ltd. What is the FPO price band? The company has fixed the floor price of the FPO at Rs 3,112 per equity share, a 13% discount from last Wednesday’s closing price of Rs 3,595.35 apiece on BSE. The price band of the issue has been set at Rs 3,112-3,276 per share. On the following Thursday, the company’s scrip, which shot up by 126 % in the last year, fell 3.72% at Rs 3,461.6 on the BSE, facing selling pressure from investors who were worried over the high pricing of the FPO. Click here for more How has the stock price behaved? Over the last eight trading sessions, the share price of Adani enterprises has declined by around 10%, and over the past one month, as of mid-January 2023, it has fallen over 16%. Market experts say that since the FPO will come at a discount to the current trading price, the share prices have fallen in anticipation of the same. Also Read | While the FPO size is huge, leading brokerage houses feel that the FPO may get subscribed fully despite a weak secondary market condition, as the company has generated return for investors in the past and there is interest among foreign investors towar...

Uptake from retail investors was notably weak, with a large portion of the offering taken up by institutions and existing shareholders including Abu Dhabi’s International Holding Co. Market values of Adani’s listed companies plunged after Hindenburg's allegations. Adani has denied the short seller’s allegations and threatened legal action against the US-based firm. NIIs put in bids for over three times the 96.16 lakh shares reserved for them. Around 1.28 crore shares reserved for qualified institutional buyers, or QIBs, was almost fully subscribed, according to the data. The employee quota attracted 55 per cent bids, while retail investors bid for only 12 per cent of their category, despite additional discounts, impeding Adani's plans to expand his shareholder base and invite "the average, normal Indian mom and dad as shareholders". Why the FPO is critical for Adani? The FPO is critical for Asia's richest man, not just because it will help cut the group's debt, but because its success will be seen as a mark of investor confidence as he faces one of his biggest business and reputational challenges. A follow-on public offering (FPO) is the issuance of shares to investors by a company listed on a stock exchange after its initial public offerings. There were concerns that the FPO may not receive a strong response from investors amid the Hindenburg Research report, which claimed the Among the most notable buyers is Abu Dhabi’s International Holding Co, which said it will invest...

Adani Enterprises FPO: Amid bloodbath on Dalal Street and Hindenburg Research report raising concern over debt positions of Adani group companies, the follow-on public offer (FPO) of Adani Enterprises Ltd opened for subscription on Friday. After day one of bidding the follow-on offer has been subscribed just 0.01 times whereas its retail portion got subscribed 0.02 times. Meanwhile, grey market mood is also not encouraging for the company and its promoters. Kya Lagta hai in हिंदी । EP 6 :Adani Nifty & Markets. What next? Kya Lagta Hai? "Much depends upon Monday opening as ₹2,800 apiece, which is higher than Adani Enterprises share price today. If there is bounce back in Adani Enterprises share price on Monday, then in that case the follow-on issue may attract investors otherwise even decreasing the FPO price won't be a handy instrument for the company promoters," said Avinash Gorakshkar, Head of Research at Profitmart. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.