Adani Enterprises' fundraise targets retail buyers, allows discount pricing

Adani Enterprises Ltd chose a fundraising route for its $2.5 billion share sale that allows the group to woo retail investors through potentially discounted prices

Adani Enterprises Ltd., the flagship firm owned by Asia’s richest person Gautam Adani, chose a fundraising route for its $2.5 billion share sale that allows the group to woo retail investors through potentially discounted prices.
 

The 200 billion rupee ($2.5 billion) equity sale via the further public offer mechanism, approved Friday, gives the company maximum flexibility, including pricing at a discount to target more investors, Chief Financial Officer Jugeshinder Singh said in an interview. After tapping strategic investors in recent years, Singh said the conglomerate was looking for a broader investor base that doesn’t mind a company investing in long-term