Adani Enterprises has raised $500 million i.e. about Rs 4,200 crore through Qualified Institutional Placement to pursue its growth plans through QIP. Adani Enterprises Limited (AEL) has issued a statement stating that it has successfully completed the QIP. The face value of equity shares of Adani Enterprises Limited is Rs 1 per share.
A total of 1,41,79,608 equity shares were allotted through QIP at an issue price of Rs 2,962 per equity share. The transaction was initiated on 9 October 2024 (after market) with a deal size of approximately Rs 4,200 crore (US$ 500 million) and closed on 15 October 2024.
According to the company, the QIP received huge investor interest and received bids of 4.2 times the deal size. AEL’s current portfolio includes businesses such as airports and roads in the transport and logistics sector, new energy ecosystems (including solar and wind manufacturing) and data centers in the energy and utilities sector. The company has stated that the proceeds from the QIP will be used for capital expenditure, debt repayment and general corporate purposes.
