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Billionaire Gautam Adani's firm weighs $1.8 bn fundraise in new shares

Billionaire Gautam Adani's conglomerate is working with advisers on the follow-on issue and could sell the shares as soon as next year

Gautam Adani
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Baiju Kalesh and P R Sanjai | Bloomberg
Adani Enterprises Ltd., the flagship firm of Asia’s richest person, is considering issuing at least $1.8 billion in new shares, according to people familiar with the matter.
 
Billionaire Gautam Adani’s conglomerate is working with advisers on the follow-on issue and could sell the shares as soon as next year, the people said, asking not to be identified as the information is private. The sale could raise as much as $2.4 billion, one of the people said. 

The issuance will test investor appetite for a stock that has had outsized gains, compounded by lower liquidity relative to peers and sparse

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First Published: Nov 23 2022 | 10:55 AM IST

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