Adani Enterprises Limited announced on Thursday that it has successfully raised $500 million (approximately Rs 4,200 crore) through a Qualified Institutional Placement (QIP) to support its growth initiatives.
The company allotted a total of 1,41,79,608 equity shares at an issue price of Rs 2,962 per share. The QIP process began on October 9, 2024, with a deal size of around Rs 4,200 crore and concluded on October 15, 2024.
Adani Enterprises reported strong investor interest in the QIP, with bids amounting to 4.2 times the deal size. The company’s portfolio spans various sectors, including transport and logistics (airports and roads), new energy ecosystems (solar and wind manufacturing), and data centers in the energy and utilities sector.
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SBI Capital Markets Limited, Jefferies India Private Limited, and ICICI Securities Limited served as the book-running lead managers for the issue. Cantor Fitzgerald & Co acted as an advisor, while Cyril Amarchand Mangaldas provided legal counsel to Adani Enterprises on Indian law matters. Trilegal and Latham & Watkins served as legal advisors to the lead managers concerning Indian and international law, respectively.
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