Adani Enterprises Increases Share Sale to $1.75 Billion After Strong Investor Demand
Adani Enterprises has increased the size of its qualified institutional placement (QIP) by 50% to 150 billion rupees ($1.75 billion) after receiving strong investor interest, according to sources. The offering attracted bids worth around 380 billion rupees, nearly 3.8 times the original issue size, reflecting robust institutional demand for the flagship company of the Adani Group.
The shares were reportedly priced at an indicative 2,883 rupees each, representing a 5% discount to the regulatory floor price and a 9.3% discount to the previous day’s closing price. Although Adani Enterprises’ stock initially fell by more than 2% on Friday, it later recovered to trade nearly unchanged. The company has not officially commented on the expanded fundraising.
The fresh capital will support Adani Enterprises’ ongoing investments across key growth sectors, including airports, roads, data centres and green hydrogen projects. Part of the proceeds will also be used to build a polyvinyl chloride (PVC) plant and pay concession fees for a road project. The share sale drew participation from major global investors such as BlackRock and Blackstone, along with leading Indian mutual fund houses including HDFC AMC, ICICI Prudential AMC, Kotak Mahindra AMC and SBI Funds Management.
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