Adani Enterprises files papers for Rs 20,000-crore follow-on public offer

Adani Enterprises aims to raise Rs 20,000 crore through the FPO

Adani Enterprises has filed the papers for a follow-on public issue with the national markets regulator today. The company aims to raise Rs 20,000 crore through the FPO.

On January 9, 2022, Moneycontrol was the first to report that Adani Enterprises was likely to file papers with the Securities and Exchange Board of India (Sebi) later in the month and that a clutch of additional investment bankers had been taken on board for the proposed transaction.

Read: Adani Enterprises may file for mega Rs 20,000cr FPO in Jan; takes more I-bankers on board

The report had added that depending on market conditions and investor appetite,  a launch of the deal , which is being planned under a “fast-track” mechanism introduced earlier by Sebi, was likely before March 31 .

The FPO is likely to be for party paid-up shares with payment in tranches. Adani Group is yet to comment on the development.