Adani Enterprises Limited has officially launched its Qualified Institutional Placement (QIP) of equity shares, setting the floor price at ₹3,117.4 per share. The QIP, approved by the board in May and the shareholders in June, aims to raise funds under the provisions of SEBI’s Issue of Capital and Disclosure Requirements Regulations.
The company may offer a discount of up to 5% on the floor price during the issuance. The final issue price will be determined in consultation with the book running lead managers, including SBI Capital Markets, Jefferies India, and ICICI Securities. Additionally, Cantor Fitzgerald & Co. has been appointed as an advisor for the issue.
The equity shares issued will not be registered under U.S. securities laws, and no public offering of securities is planned in the United States.
Adani Enterprises’ QIP initiative represents a strategic step towards strengthening its capital base and expanding its business footprint.