Adani Enterprises Limited (AEL) on Thursday said it has successfully raised $500 million (about Rs 4,200 crore) primary equity via qualified institutional placement (QIP) to further its growth plans.
The flagship company of the Adani Group completed the QIP of face value of Rs 1 each, aggregating to Rs 4,200 crore. A total of 1,41,79,608 equity shares were allocated at an issue price of Rs 2,962 per equity share through the QIP.
The QIP saw overwhelming demand, receiving bids of approximately 4.2 times of the deal size from a diverse group of investors, including global long-only investors, major Indian mutual funds and insurance companies.
The proceeds from the QIP will be utilised for funding capital expenditure, debt repayment and general corporate purposes, the company said in a statement.
The transaction was launched on October 9, with a deal size of approximately $500 million, and closed on October 15.
SBI Capital Markets, Jefferies India and ICICI Securities were the book running lead managers for the issue. Cantor Fitzgerald & Co acted as an advisor in connection with the issue.
According to the company, the successful QIP underscores its position as India’s largest listed incubator of scalable and large businesses in core infrastructure which addresses the needs of the country.
The current incubation portfolio of Adani Enterprises includes airports and roads in the transport and logistics sector, new energy ecosystem (including solar and wind manufacturing) and data centres in the energy and utility sector.
In the April-June quarter, Adani Enterprises Ltd reported a robust net profit of Rs 1,458 crore, an impressive 116 per cent growth from the same quarter last fiscal. The flagship company of the Adani Group clocked Rs 26,067 crore in total income, a 13 per cent rise from Rs 23,016 crore in Q1 FY24. Consolidated EBITDA increased by 48 per cent to Rs 4,300 crore.
The emerging core infra businesses of Adani New Industries Ltd (ANIL) ecosystem, airports and roads are consistently making significant strides in their operational performance.
CM Dr Manik Saha emphasis on cleanliness of health centres; visits Gandhigram PHC
Chief Minister Dr Manik Saha on Thursday visited the Gandhigram Primary Health Centre and took a stock of the infrastructure and health care facilities in the Centre.
Only 66 percent households in Agartala connected with drinking water; CM Dr manic Saha instructs to expedite ongoing project work to cover more household
Chief Minister Dr Manik Saha on Thursday visited the Jal Board office here at Agartala and instructed the officials to expedite the ongoing project works for connecting more households with drinking water here in the capital town of Agartala.
India suspends visa services to Pakistani nationals with immediate effect
The Ministry of External Affairs (MEA) on Thursday announced that India has decided to suspend visa services to Pakistani nationals with immediate effect following the decisions taken by the Cabinet Committee on Security (CCS) in the wake of the Pahalgam terror attack.
Adani’s cement major ACC clocks highest-ever annual PAT at Rs 2,402 crore in FY25
Leading cement and building materials company ACC Limited on Thursday reported highest-ever annual profit after tax (PAT) at Rs 2,402 crore in FY25, up by 3 per cent.
'Celebrating bloodshed', social media fumes after man seen carrying cake to Pak High Commission
A video has emerged showing a man carrying a cake into the Pakistan High Commission in New Delhi on Thursday, just two days after the brutal terror attack that claimed the lives of 26 civilians in Jammu and Kashmir's Pahalgam and a day following India's strong diplomatic retaliation against Islamabad.
If villages are strong, India will develop faster: PM Modi on launching Rs 13,480-crore projects in Bihar
On the occasion of National Panchayati Raj Day, Prime Minister Narendra Modi addressed a massive public gathering in the Madhubani district of Bihar and inaugurated a series of development projects across key sectors, including railways, infrastructure, LPG, and rural empowerment -- collectively worth over Rs 13,480 crore.
Pahalgam attack: BJP legislators in Bengal stage protest, burn Pakistan flags in front of Assembly
BJP legislators in Bengal, led by the Leader of the Opposition in West Bengal Assembly Suvendu Adhikari, on Thursday staged protests against the Pahalgam terror attack by burning Pakistan flags in front of the House.
J&K Police announce Rs 20 lakh reward for information on Pahalgam attack terrorists
The J&K Police on Thursday announced a reward of Rs 20 lakh for anyone providing information that leads to the arrest of Pakistani nationals and local Lashkar-e-Taiba terrorists involved in the Pahalgam terror attack.