Adani Enterprises Raises Rs 5,984.9 Crore From Anchor Investors Ahead Of FPO

Adani Enterprises Ltd. allocated 1.83 crore shares under the anchor portion of its Rs 20,000-crore follow-on public offering to raise Rs 5,985 crore from 33 buyers.

The list of anchor investors included Maybank Securities, Abu Dhabi Investment Authority, Life Insurance Corp. of India, SBI Life Insurance Co., HDFC Life Insurance Co., BNP Paribas Arbitrage, Societe Generale, Goldman Sachs, Nomura, Citigroup, and Morgan Stanley, according to an exchange filing on Wednesday.

The anchor investor allocation price was Rs 3,276 per share. Of this, the buyers paid an application bid amount of Rs 1,638 per share, cumulatively standing at Rs 2,992.5 crore, which is half the funds raised from the anchor portion.

The balance amount of Rs 2,992.5 crore will have to be paid on one or more subsequent calls, as determined by the company’s board or a committee thereof from time to time, Adani Enterprises said in its filing.

The FPO committee is scheduled to meet on or around Feb. 1 for approval of the offer price and prospectus of the issue.