The board of Adani Enterprises Limited on Friday approved raising up to Rs 20,000 crore through a follow on public offer (FPO). The company said in a stock exchange filing that the company will seek shareholders’ approval for the share sale through postal ballot.
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Asia Richest Businessman Gautam Adani Adani Enterprises Limited, the flagship company of (Adani Enterprises Limited) The board on Friday followed up on the public offer. (FPO) Has approved raising up to Rs 20,000 crore through The company said in a stock exchange filing that the company will seek shareholders’ approval for the share sale through postal ballot. If Adani Enterprises manages to raise the entire Rs 20,000 crore, then this share sale will become the biggest FPO in the country so far.
At present this record is Yes Bank (Yes Bank) Ltd., which raised Rs 15,000 crore through FPO in July 2020. The funds raised from the FPO will help the group in green and digital business and provide most of the equity needed for its expansion plans for the next 3 to 5 years. Investment banks ICICI Securities and Jefferies have started work on the offer documents for the FPO.
$100 billion investment in 10 years
In September, Gautam Adani had said that his group would invest $100 billion in the next decade in sectors such as energy transition, digital as well as aerospace and defence, metals and petrochemicals. Out of this, 70 percent has been earmarked for energy transition. Giving information about his group’s plans, Adani said that he has a commitment to invest $ 70 billion in an integrated hydrogen-based venue chain.
Adani Group Ebita
Giving information in the media report, an Adani official said that Adani Enterprises has prepared a blue print of a 3-5 year plan for raising funds. Will take care of 80-90 per cent of its equity funding requirements for the tenure under the current plan. Adani Group’s business generates consolidated EBITDA of around Rs 30,000 crore, of which Rs 13,000 crore is used to service the group’s debt. The remaining Rs 17,000 crore goes towards financing growth.
recently done this
Adani Enterprises will, over time, spin-off companies such as airports, data centres, green hydrogen and road projects. According to Adani executives, each of these firms generates free cash flow. The group has recently conducted roadshows in major metros to explain its business to investors. The healthcare vertical is, for now, a non-profitable enterprise. The group’s airport business has been cash flow positive during the quarter. Adani Airports won the mandate to modernize and operate six airports – Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram – through the tender process of the Airports Authority of India. In addition, it owns and operates the Mumbai airport.
Source: www.tv9hindi.com”