Adani FPO could be India's largest-ever; board to approve proposal on Fri

The follow-on offering will help the firm broaden its investor base

Adani Enterprises, the flagship firm of India’s most valuable conglomerate, is planning to launch a follow-on public offering (FPO) to raise Rs 20,000 crore in fresh capital. The board of Gautam Adani's firm will meet on Friday to approve the proposal. If Adani Enterprises indeed decides to launch a Rs 20,000-crore FPO, it will be the country’s biggest-ever. Currently, Yes Bank holds the record for the largest-ever FPO. In July 2020, the lender had mopped up Rs 15,000-crore via FPO to meet its capital requirements. The FPO managed to garner just 93 per cent subscription. SBI Capital Markets, which had