Adani Enterprises to raise Rs 20,000 crore in India's largest FPO

This would be the group's second fundraise from the public in 2022. In January, Adani Wilmar came out with an initial public offering of Rs 3,600 crore

Adani Enterprises, the flagship company of the Adani group, on Friday said its board of directors had approved a follow-on public offer (FPO) of Rs 20,000 crore. This will be the country’s largest FPO, bettering the record of YES Bank, which raised Rs 15,000 crore in July 2020.

In a disclosure to the stock exchanges, Adani Enterprises said shareholders’ approval would be sought through postal ballot. The face value of each share in the FPO would be Rs 1.

This would be the group’s second fundraise from the public in 2022. In January, Adani Wilmar came out with an initial