India's rapidly rising ports to power conglomerate Adani Enterprises has announced a Follow on Public Offer (FPO), to issue more shares to existing and potential stake holders in the firm.
The issue will open on January 27 and will be available for investors till January 31, with a target of raising Rs 20,000 crore. The Adani Group's flagship firm, AEL has interests in edible oil, roads, airports and infrastructure.
The 30 year old firm's bid to raise money through the placement which is a follow up to an IPO, is part of Adani's bid to raise funds via equity after the group's debt went up 40 per cent last year to surge past $2 trillion.
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