Business Economy


Adani Enterprises raises Rs 15,000 Crore through QIP

Mumbai, Jul 8 (UNI) Adani Enterprises Ltd has officially informed the stock exchanges through a regulatory filing that it has successfully completed its Rs 15,000-crore Qualified Institutional Placement (QIP), which is an equity sale to institutional investors.
According to the regulatory filing, the company’s QIP committee approved the allotment of more than 5.2 crore equity shares to eligible qualified institutional buyers, in order to raise Rs 15,000 crore.
Among the investors allotted shares were funds managed by SBI, New World, and EUPAC.
Adani Enterprises said in its regulatory filing that the company allotted 5,20,29,136 equity shares with a face value of Re 1 each at an issue price of Rs 2,883 per share, including a premium of Rs 2,882 per share.
The issue price reflects a 5 per cent discount, or Rs 151.68 per share, to the floor price of Rs 3,034.68, according to the regulatory filing.
The QIP opened on July 2 and closed on July 7. Following the allotment, the paid-up equity share capital of Adani Enterprises has increased from Rs 130.14 crore to Rs 135.34 crore.
The number of fully paid-up equity shares has increased from 130,09,20,098 to 1,35,29,49,234 after the allotment. The company continues to have 7,73,366 partly paid-up equity shares.
Adani Enterprises said the paid-up capital figures include partly paid-up equity shares.
However, the paid-up capital figures exclude amounts received from certain shareholders between May 18 and June 10 towards the final reminder call on partly paid-up shares.
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