Adani Enterprises Upsizes Share Sale to $1.75 Billion After Strong Investor Demand
India’s Adani Enterprises has increased the size of its qualified institutional placement by 50% to 150 billion rupees ($1.75 billion) after receiving strong investor demand. The issue was oversubscribed nearly 3.8 times, with bids worth around 380 billion rupees, according to sources.
The placement is part of the flagship firm’s broader expansion push under the Adani Group, which is investing heavily in airports, roads, data centres, and green hydrogen projects. The shares were priced at 2,883 rupees each, reflecting a discount to both the regulatory floor price and the previous closing price.
The fundraise attracted participation from major global and domestic investors, including BlackRock, Blackstone, and Indian mutual funds such as HDFC AMC, ICICI Prudential AMC, Kotak Mahindra AMC, and SBI Funds Management. The proceeds will support capital expenditure, including a polyvinyl chloride plant and road project concession fees.
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