Adani Enterprises to raise Rs 20,000 crore through follow-on public offer

The face value of each Adani Enterprises share would be Rs 1 each and the approval of the shareholders would be taken via postal ballot

Adani Enterprises will raise Rs 20,000 crore through a follow-on public offer (FPO). The company made the announcement in a regulatory filing on Friday. 

"The board of directors of the company (the 'Board'), at its meeting held today, 25th November 2022, has approved...raising of funds by way of a further public offering through a fresh issue of Equity Shares by the company aggregating up to Rs 20,000 crore," the company said. 

The face value of each share would be Rs 1. Further, the approval of the shareholders would be taken via postal ballot. 

This comes after a 1,800 per cent