Assuming full subscription and Allotment and receipt of all Call Monies concerning the FPO Equity Shares.
The FPO comprises partly paid-up equity shares of the face value of ₹ 1 each (“FPO Equity Shares”) of the Company for cash at a price# (including a premium) per FPO equity share by way of a fresh issue (the “Offer”). The Offer includes a reservation of FPO equity shares aggregating up to ₹ 50 crores for subscription by eligible employees not exceeding 5% of the post-Offer paid-up equity capital (“Employee Reservation Portion”).
# A discount of ` 64 per FPO Equity Share is being offered for Retail Individual Bidders Bidding in the Retail Portion of the Offer.
The Price Band for the FPO Offer has been fixed from ₹ 3,112 to ₹ 3,276 per FPO Equity Share. Bids can be made for a minimum of 4 FPO Equity Shares and in multiples of 4 FPO Equity Shares thereafter. The Anchor Investor Bidding Date shall be one Working Day before the Bid/Offer Opening Date. The FPO Offer will close on Tuesday, January 31, 2023. UPI mandate end time and date shall be at 5.00 p.m. on the Bid/ Offer Closing Date.
The Retail Portion of the offer will be at a discount of ₹ 64 per FPO Equity Share for retail investors and such discount should be considered as part of the red herring prospectus dated January 18, 2023 (“RHP”) and should be read in conjunction with the RHP.
Adani Enterprises proposes to utilize ₹10,869 crore of the Net Proceeds of the FPO towards funding capital expenditure requirements of some of its subsidiaries about certain projects of the green hydrogen ecosystem; improvement works of certain existing airport facilities; and construction of greenfield expressway. Adani Enterprises also proposes to utilize ₹ 4,165 crores to repay in full or part, certain borrowings of the Company and three of its subsidiaries, namely, Adani Airport Holding Limited, Adani Road Transport Limited, and Mundra Solar Limited. The rest will be utilized for general corporate purposes.
The FPO Equity Shares offered through this Red Herring Prospectus are proposed to be listed on the Stock Exchanges.
The Book Running Lead Managers (“BRLMs”) to the Offer are ICICI Securities Limited, Jefferies India Private Limited, SBI Capital Markets Limited, Axis Capital Limited, BOB Capital Markets Limited, IDBI Capital Markets & Securities Limited, JM Financial Limited, IIFL Securities Limited, Monarch Networth Capital Limited and Elara Capital (India) Private Limited.
- Price Band fixed from ₹ 3,112 to ₹ 3,276 per Equity Share of face value of ₹ 1 each
- Offer will close on Tuesday, January 31, 2023
- Bids can be made for a minimum of 4 FPO Equity Shares and in multiples of 4 FPO Equity Shares thereafter
- In accordance with the recommendation of a Committee of Independent Directors of the Company, pursuant to their resolution dated January 18, 2023 the above provided price band is justified based on quantitative factors/ KPIs disclosed in ‘Basis for the Offer Price’ section vis-à-vis the WACA of primary issuances/ secondary transactions disclosed in ‘Basis for the Offer Price’ section on page 123 of the Red Herring Prospectus.
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Payment Schedule for FPO Equity Shares# |
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At Floor Price (`) |
At Cap Price (`) |
|
On Application |
1,556.00* |
1,638.00* |
|
One or more subsequent call(s) |
1,556.00 |
1,638.00 |
|
Total (`) |
3,112.00 |
3,276.00 |
# The Price Band advertised is for a full FPO Equity Share of face value ` 1 each, of which 50% of the amount is payable at the time of the Application and balance amount will be paid in one or more subsequent Call(s) as determined by the Company’s Board of Directors or a duly authorised committee thereof at its sole discretion, from time to time.
* Constitutes 50% of the Floor/ Cap Price.
Note: A discount of 64 per FPO Equity Share is being offered for Retail Individual Bidders Bidding in the Retail Portion of the Offer.
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