Adani Enterprises Limited (AEL) issued equity shares of face value Rs 1 each through Qualified Institutional Placement (QIP). 4,200 crores i.e. 50 crore dollars have been collected.
Under this subscription, a total of 1,41,79,608 shares worth Rs. 2,962 have been allotted. The capital raised through QIP will be used for capital expenditure, loan repayments and general corporate purposes. The company’s QIP issue received a good response and received bids of around 4.2 times. Bidders for the issue include long-term global investors, Indian mutual funds and insurance companies. AEL’s current incubation portfolio includes airports and roads in the transportation and logistics sector, new energy ecosystems including solar and wind manufacturing and data centers in the power and utility sector. AEL’s other businesses, including copper, PVC, defense and specialty manufacturing, contribute to achieving the country’s vision of a self-reliant India with a focus on import substitution.
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