Adani Enterprises files Rs 20,000 cr FPO papers with SEBI today

The FPO is likely to be for party paid-up shares with payment in tranches.

FPJ Web DeskUpdated: Monday, January 16, 2023, 01:53 PM IST
article-image
Adani Enterprises files Rs 20,000 cr FPO papers with SEBI today | Twitter

Adani Enterprises filed papers for a follow-on public offering (FPO) issue with the Securities and Exchange Board of India (SEBI) regulator on Monday. The company aims to raise Rs 20,000 crore through the FPO.

The FPO is likely to be for party paid-up shares with payment in tranches.

The FPO will be the country's largest FPO, currently, Yes Bank holds the record for the largest-ever FPO. The top 9 FPOs are either by lenders or by public sector enterprises (PSU). The 10 largest is Baba Ramdev's Patanjali Ayurveda firm, Ruchi Soya, which launched a Rs 4,300 crore FPO.

This avenue of raising funds is not popular among listed companies. Companies prefer options like qualified institutional compliances that are more flexible and are relatively more fast-track.

(If you have a story in and around Mumbai, you have our ears, be a citizen journalist and send us your story here. )

(To receive our E-paper on WhatsApp daily, please click here.  To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Earnings 2023 LIVE: IRCTC income hits Rs 94,881 cr, net profit at Rs 25,552 cr; HAL income hits Rs...

Earnings 2023 LIVE: IRCTC income hits Rs 94,881 cr, net profit at Rs 25,552 cr; HAL income hits Rs...

IRCTC declares interim dividend of Rs 3.50 per equity share

IRCTC declares interim dividend of Rs 3.50 per equity share

MRF Limited declares second interim dividend of Rs 3 per equity share

MRF Limited declares second interim dividend of Rs 3 per equity share

HDFC Life issues 5,38,000 shares as stock options

HDFC Life issues 5,38,000 shares as stock options

Sapphire Foods offers 63,286 shares to employees as stock options

Sapphire Foods offers 63,286 shares to employees as stock options