Adani Group's FPO is going to be launched after a few days, which is giving you a great opportunity to earn, which will give you strong returns in no time.
The FPO of Adani Enterprises Limited is coming soon. There is a lot of discussion going on in the market regarding this FPO. The company has filed an offer letter with the stock exchanges for a follow on public offer (FPO) of Rs 20,000 crore. It is the flagship company of the group headed by the country's veteran billionaire businessman Gautam Adani.
FPO will open on 27 January
According to the offer letter, Adani's FPO will open on January 27 and close on January 31. Under the FPO, the company has fixed a price band of Rs 3112 to Rs 3276 per share. On Wednesday, the shares of the company closed at Rs 3,595.35 on the BSE.
Where will the company use the money?
Of the Rs 20,000 crore raised from the FPO, Rs 10,869 crore will be used for green hydrogen projects, the development of existing airports, and the construction of new expressways. Apart from this, Rs 4,165 crore will be used to repay loans taken by subsidiaries of airports, roads, and solar projects.
Started as a merchant
The Adani Group started as a trader and today its business spans ports, coal mining, airports, data centers, and cement as well as green energy. AEL is India's largest listed business incubator and is involved in four major industry sectors - Energy & Utilities, Transport & Logistics, and Consumer and Primary Industries.
Company expanding new business
The company has said that we have helped in setting up new business for Adani Group in the last few years. Developed them as a large and self-sustaining business segment and later separated them as an independent listed platform. The company's current portfolio includes a green hydrogen ecosystem, data centers, airports, roads, food FMCG, digital, mining, defense, and industrial manufacturing.
How much is the debt of the company?
The company is taking advantage of new opportunities, including green hydrogen, the aviation sector, and data centers. The debt of the company stood at Rs 40,023.50 crore as on September 30, 2022.
