homebusiness Newscompanies News

These are the five businesses that Adani Enterprises plans on listing

business | Jan 23, 2023 11:36 AM IST

These are the five businesses that Adani Enterprises plans on listing

Mini

The much touted and awaited Follow-on Public Offer (FPO) of Adani Enterprises, the flagship company of the Adani Group will open on January 27.

wealth-desk wealth-desk

Buy / Sell Adani Enterpris share

Adani Enterprises has maintained that the listing of its five businesses  - materials, metals and mining, data center, airports, roads and green hydrogen remains on track, and that the decision on listing them will be taken closer to time.

Recommended Articles

View All

In an interaction with CNBC-TV18, CFO Jugeshinder Singh said that the businesses will reach a stage where they are able to support their own capital and investment planning based on their business needs.
"That (listing plans) remains on track and we expect all of these five businesses to be broadly ready. We'll make a decision closer to the date come 2025-2028," Singh said.
The much touted and awaited Follow-on Public Offer (FPO) of Adani Enterprises, the flagship company of the Adani Group will open on January 27 with a price band of Rs 3,112 - Rs 3,276. Retail investors will get a discount worth Rs 64 and the issue will close on January 31.
Singh mentioned that the company opted for the FPO route to expand its shareholder base and that the required equity is on the basis of funds for their existing and planned projects. Singh also said that the FPO is received good interest from institutional investors.
Adani Enterprises FPO Details
Floor Price`3,112/share
Cap Price`3,276/share
Discount for Retail Investors`64/share
Minimum Bid Size4 shares
Anchor Investors BiddingJanuary 25
FPO Opens for RetailJanuary 27
FPO ClosesJanuary 31
Any issue of equity shares floated after a company's Initial Public Offer (IPO) is known as a Follow-on Public Offer (FPO).
Adani Enterprises had signed an agreement in June with TotalEnergies wherein the latter will acquire a 25 percent stake in Adani New Industries Ltd. The new entity targeted production of one million metric tonnes of green hydrogen per year by 2030.
Singh said that the transaction with Total is likely to be completed within the next 4-12 weeks and that the quantum and contours of the investment will depend on the final planned business case.
The CFO also said that as a standalone entity, Adani Enterprises has very low debt of less than 1x net debt to EBITDA. However, on a consolidated basis, when all the businesses are included, the number goes up to 6x.
Adani Enterprises Ltd. on Saturday said that one of its subsidiaries has incorporated a joint venture (JV) company with Bulgaria’s Armaco JSC to enter the defence business.
Shares of Adani Enterprises are trading 0.7 percent lower at Rs 3,432. The stock is down for the fourth straight day and has declined in five out of the last six trading sessions.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Top Budget Opinions

    Most Read

    Market Movers

    View All
    Top GainersTop Losers
    CurrencyCommodities
    CompanyPriceChng%Chng