Business

Adani Enterprises Raises $500 Million Through QIP To Fuel Growth

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.

Share Allotment Details

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.

Strong Investor Interest

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.

Also Read: Meta Implements Job Cuts Across Teams Amid Restructuring Efforts

The proceeds from the QIP will be allocated toward capital expenditure, debt repayment, and general corporate purposes.

Management and Advisory Team

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.

Richa Kaushik

Recent Posts

Pakistan’s Digital Frontline: Jokes, Memes And Savage Self-Roasts

While tensions between India and Pakistan escalate post the tragic Pahalgam terror attack, something unexpected…

57 mins ago

Reliance Industries Q4 Net Profit Rises 6.4% As Retail And Digital Units Offset Energy Weakness

Reliance Industries delivered a strong Q4 FY25 performance, with Y-o-Y net profit rising 6.4% to…

1 hour ago

Yash Pratap Singh And Mehak Jaiswal Top UP Board Exams With Outstanding Scores

Yash Pratap Singh of Jalaun tops Class 10 with 97.83%, while Prayagraj’s Mehak Jaiswal secures…

1 hour ago

Yogi Adityanath Calls For Reforms To Make Madrasa Education Modern And Employment-Oriented

Chief Minister Yogi Adityanath on Friday emphasised the need for sweeping reforms in the madrasa…

2 hours ago

Tulsi Gabbard Backs India’s Hunt For Pahalgam Terror Attack Perpetrators

United States Director of National Intelligence (DNI) Tulsi Gabbard on Friday expressed strong support for…

3 hours ago

World Leaders Head To Rome For funeral Of Pope Francis

Indian President Droupadi Murmu will also attend, representing India alongside Union Minister Kiren Rijiju, Minister…

4 hours ago