FPO ADANI ENTERPRISES
Adani in talks for $2-2.5 billion stake sales in 3 Group companies
This will be the first bid by the group to raise funds after having scrapped the $2.5-billion Adani Enterprises follow-on public offer (FPO) in February in the wake of the Hindenburg Research report. The fundraise will be a primary equity infusion that will be used for debt payment and long-term capital expenditure, said the people cited above.
Adani Enterprises FPO withdrawal won't affect future plans: CFO
Shares of Adani Enterprises, which reported a consolidated net profit of Rs 820 crore for the quarter ended December against a net loss of Rs 11.63 crore a year ago, were trading 1.3% higher today at Rs 1,773. The Nifty stock is, however, trading around 58% lower than its 52-week high price of Rs 4,189.55
Mark Mobius says Adani’s debt pile 'scared us away' from share sale
The selloff deepened after Bloomberg reported this week that units of Credit Suisse Group AG and Citigroup Inc. have stopped accepting some securities issued by Adani’s companies as collateral for margin loans to wealthy clients.
Adani Enterprises calls off FPO, money to be returned to investors
Citing the unprecedented crash in stock prices, Adani Enterprises Chairman Gautam Adani said the board felt that going ahead with the issue will not be morally correct, given these extraordinary circumstances
Adani Enterprises cancels FPO, to refund investors
"Given the unprecedented situation and the current market volatility the company aims to protect the interest of its investing community by returning the FPO proceeds and withdraws the completed transaction," the company told exchanges after a board meeting Wednesday evening.
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Gautam Adani explains why he was forced to withdraw Rs 20,000 crore-FPO
"For me, the interest of my investors is paramount and everything is secondary. Hence to insulate the investors from potential losses we have withdrawn the FPO," Adani said in a message to shareholders.
Adani Enterprises FPO fully subscribed on final day
The flagship entity of the Adani Group got bids for 50.9 million shares against an offer size of 45.5 million shares, excluding the anchor book, at a price range of ₹3,112-3,276 apiece. Adani Enterprises closed 2.8% higher at ₹2,973.90 Tuesday on the BSE, having dropped for two days in a row. The benchmark Sensex ended almost flat Tuesday.
Fully subscribed! Adani Enterprises FPO survives Hindenburg attack with NII support
Shares of billionaire Gautam Adani's flagship company Adani Enterprises were trading below the Rs 3,000 mark, while the FPO was priced at Rs 3,112-3,276 per share.
Abu Dhabi’s IHC to invest $400 million in Adani Enterprises FPO
IHC will make the investment through its subsidiary Green Transmission Investment Holding RSC Limited.
Adani Ent FPO subscribed 3% on Day 2, can the mega issue sail through?
The FPO was subscribed 3% on the Day 2, with the company receiving bids for 13,98,516 shares against the total issue size of 4,55,06,791 shares. Despite rebounding in trade on Monday after the massive sell-off last week, shares of Adani Enterprises are trading below the floor price of the FPO.
Abu Dhabi-based IHC commits $400 million to Adani Enterprises FPO
Additionally, AEL is close to receiving further investment commitments of $1-1.1 billion (around ₹8,100-9,000 crore) from investors in Middle East and Southeast Asia with the announcement expected on Tuesday when the FPO closes, said a person directly aware of the matter.
Hindenburg Research Report fallout: FPO on track, no price band change, says Adani Group
The Rs 20,000-crore Adani Enterprises FPO, which opened on Friday, received bids for about 1% of the shares on offer, after allegations of governance lapses and price “manipulation” by US activist short-seller Hindenburg Research triggered panic selling in shares of the conglomerate’s companies. The issue runs January 27-31. “There is no change in either the schedule or the issue price,” said an Adani Group spokesperson on Saturday.
Adani Enterprises says $2.5 billion share sale on track even as bankers mull changes
Bankers on the deal were considering extending the sale or cutting the issue price after shares of Adani plunged following a report from a U.S. short seller, three people familiar with the matter told Reuters on Saturday.
Hindenburg impact: Adani Enterprises FPO subscribed just 1% on Day 1
The company received total bids of 4,70,160 shares against the issue size of 4,55,06,791 shares. The portion reserved for retail investors got bids for 3,99,880 shares against 2,29,08,464 shares on offer.
Adani Ent raises Rs 6K cr from anchor investors before FPO; MFs stay away
The Adani Group’s flagship company has allotted 1,82,68,925 shares to over 30 institutional investors at Rs 3,276 a share
Adani Enterprises FPO opens: Should you ignore Hindenburg report to subscribe?
Proxy advisor InGovern Research said the strategically timed release of the Hindenburg report on the eve of the FPO seems to indicate that there was some objective to scare investors.
Adani Enterprises FPO opens today: Analysts, brokers cite growth potential, some flag valuation
Adani Enterprises FPO: While those advising clients to bid in the FPO are bullish about the company's long-term prospects, analysts at several other brokerages said they do not track the company and refrained from making a recommendation. Some investment advisers, on condition of anonymity, said the current share valuation was elevated and so they were advising clients to skip the FPO.
Adani Group stocks lose up to 10% after Hindenburg reveals short positions
All 10 Adani Group stocks were in the red this morning with Adani Ports dropping the most at 5% to hit day's low at Rs 723. Other top losers in the pack included Adani Power, Adani Wilmar and Ambuja Cement - all of them lost 4% each.
Adani FPO open from Friday: Dates, price band, review, other details in 10 points
The basis of allotment of FPO would be finalised by 3 February and shares would be credited to successful applicants' demat accounts by 7 February. The new equity shares would be available for trading the next day on 8 February.
Adani Enterprises FPO opens Jan 27: What should investors do - apply or skip?
The FPO, which will help the conglomerate fund capital expenditure requirements of subsidiaries in green hydrogen, airport facilities and greenfield expressway, will lead to the promoter's shareholding going down by around 3.5% and increase the free float of the multibagger stock.
Coal part of India's base load energy: Adani Group
The role of coal was reiterated by Adani Enterprises, CFO, Jugeshinder Singh, when he was quizzed if use of coal for its power business could be a deterrent for international investors to invest in Adani Enterprises' follow-on public offer.
Adani Enterprises stock sheds nearly 4% on FPO news
The FPO will open for subscription on January 27 and close on January 31. The company will issue fresh shares on a partly-paid basis under a 100% book-built offer.
Adani FPO opens Jan 27 at Rs 3,112-3,276 per share
The company will offer partly paid shares to retail investors at a discount of ₹64 apiece to the issue price. Investors must pay 50% of the offer price at the time of placing bids in the FPO, and the remaining 50% on one or more subsequent calls, as decided by the board.
Adani Enterprises' Rs 20,000 crore FPO to open on January 27, price band announced
Under the FPO, the employee quota has been fixed at 5%, retail at 35%, non-institutional at 15%. Anchor investor bidding date for the FPO has been fixed on Jan 25.
Adani Enterprises files papers for Rs 20,000 crore FPO
The FPO could result in the stakes of promoters led by Gautam Adani falling by 3.5%. As of September 2022, the promoters owned 72.63% of Adani Enterprises, while the remaining 27.37% was with public shareholders. Life Insurance Corporation held 4.03% among the public shareholders, while Nomura Singapore, APMS Investment Fund, Elara India Opportunities Fund, and Lts Investment Fund owned stakes between 1% and 2%.
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