Adani Enterprises has successfully closed its $500 million Qualified Institutional Placement (QIP), which garnered an overwhelming response with 4x demand from investors. The QIP book was closed on the morning of October 10, 2024.
The process is expected to conclude by October 15, following the company’s board meeting. Allocation of shares to investors will also be announced on October 15. This significant demand highlights the strong investor confidence in Adani Enterprises as it continues to expand its business operations.
Earlier on October 9 –
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.
