Adani Enterprises FPO: Who can subscribe, lot size, price, GMP, other details

Market


Adani Enterprises FPO: The Follow-on Public Offer (FPO) of Adani Enterprises Limited is going to open on 27th January 2023 and the FPO will remain open for subscribers till 31st January 2023. Adani Enterprises FPO price has been fixed at 3,112 to 3,276 per equity share whereas Adani Enterprises share price today is 3,441 apiece on NSE. So, the issue is offered at a discount of near 5 per cent to the potential applicants. The flagship Adani group company aims to raise 20,000 crore from its fresh follow-on issue. Adani Enterprises has said that net proceeds from the FPO will be utilized for capital expenditure requirements of some of the subsidiaries of the company and repayment of (fully or partially) debts.

Meanwhile, ahead of Adani Enterprises FPO opening date, grey market has gone highly bullish on the fresh follow-on offer. According to primary market observers, Adani Enterprises FPO grey market premium (GMP) today is 100. So, those who have this Adani group stock in their portfolio may have a an opportunity to add more at lower rates whereas those who are looking forward to add Adani Enterprises shares in their portfolio, this follow-on offer can be a good opportunity to buy Adani Enterprises shares at cheaper rates.

Here we list out important Adani Enterprises FPO details in 10 points:

1] Adani Enterprises FPO price: .dani enterprises Ltd is offering fresh issues at a price band of 3112 to 3276 per share.

2] Adani Enterprises FPO date: The follow-on offer will open on 27th January 2023 and it will remain open till 31st January 2023.

3] Adani Enterprises FPO GMP: According to market observers, Adani Enterprises FPO GMP today is 100.

4] Adani Enterprises FPO size: The flagship Adani group company aims to raise 20,000 from its follow-on offer.

5] Adani Enterprises FPO lot size: A bidder will be able to apply in lots and one lot will comprise four Adani Enterprises shares.

6] Adani Enterprises FPO allotment date: The tentative date for share allocation is 3rd February 2023.

7] Adani Enterprises FPO listing: The fresh follow-on issue is proposed for listing on both BSE and NSE.

8] Adani Enterprises FPO listing date: Fresh issues of Adani Enterprises are likely to list on 8th February 2023.

9] Adani Enterprises FPO registrar: Link Intime India Private Ltd has been appointed as official registrar of Adani Enterprises FPO.

10] Adani Enterprises FPO review: On Adani Enterprises FPO review, Jayesh Mestry, Associate Manager — Retail Equity Research (Fundamental) at Asit C Mehta Investment Intermediates said, “Adani Enterprises Limited. (AEL), with its established business relations with coal suppliers of Indonesia, Australia and South Africa, has evolved as India’s largest importer of thermal coal catering to the requirement of both private and public sector undertaking (PSU) clients. The Company has businesses in 4 core sectors – Energy and Utility, Transportation and Logistics, Consumer, and Primary Industry. AEL represents an effective complement of established and developing businesses which address the needs of India. The Company is also going to manufacture end to end solution which in turn brings no fluctuations in margins.”

Giving ‘subscribe’ tag to Adani Enterprises FPO, Asit C Mehta expert said, “With its continuous focus on becoming leading manufacturer of green hydrogen and increasing number of operating mines, we believe AEL is well placed to capitalize on domestic and international opportunities. On the financial performance front, over FY19-22, it has reported a ~20% CAGR growth in the topline. Hence, we recommend subscribing the issue from a long-term prospective.”

Disclaimer: .he views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.


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