Adani Enterprises Ltd (AEL) announced this week that it has completed the qualified institutional placement (QIP) of equity shares aggregating to around INR 4,200 crore ($500 million). A total of 14,179,608 equity shares were allocated at an issue price of INR 2,962 per equity share through the QIP.
AEL said it will utilize the proceeds from the QIP for funding capital expenditure, debt repayment and general corporate purposes.
The transaction was launched Oct. 9 2024 with a deal size of around INR 4,200 crore and closed on Oct. 15, 2024. The QIP saw overwhelming demand, receiving bids of approximately 4.2x of the deal size from a diverse group of investors, including global long-only investors, major Indian mutual funds, and insurance companies.
AEL’s current incubation portfolio includes new energy ecosystem (including solar and wind manufacturing) and data centres in the energy and utility sector, and airports and roads in the transport and logistics sector. AEL’s other businesses include copper, PVC, defense and specialized manufacturing.
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