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
CLOSING BELL: The S&P BSE Sensex hit a fresh life-time high at 62,887, and the Nifty 50 registered a new summit at 18,678 on Tuesday.
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RIL's rights issue in 2020 for Rs 53,124 cr remains the single-biggest equity issuance by an Indian firm
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
The share offering would increase the company's public float from the current 27.4% level. Rival Reliance Industries' public float stands at around 49%
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
Gautam Adani is seeking legitimacy in the face of questions about his group's breakneck expansion from a traditional port operator to a sprawling empire
The follow-on offering will help the firm broaden its investor base
Billionaire Gautam Adani's group has attracted a lot of scrutiny over its debt-heavy balance sheet and not enough appreciation of its cash-flow generation ability, according to M&G Investments
According to a Bloomberg report, the share sale for the fund raise could raise as much as $2.4 billion for the company
Billionaire Gautam Adani's conglomerate is working with advisers on the follow-on issue and could sell the shares as soon as next year
Stocks to Watch: Inox Green Energy Services will make its debut on the bourses today. The issue price has been fixed at Rs 65 per share
Last week, the Adani group had revised the open offer timeline to Nov 22; offer price of Rs 294 a share is at a 24% discount to NDTV's closing price of Rs 365.85 on Monday
CLOSING BELL: A late rally on Dalal Street helped the benchmark indices end a lacklustre trading session on a positive note. Metals, select financial shares led the pullback.
In the past one week, Adani Enterprises outperformed the market as shares surged 13 per cent, as against 1.3 per cent rise in the S&P BSE Sensex
Stocks to Watch: Vodafone India's net loss widened 6.4 per cent on a year-on-year (YoY) basis at Rs 7,595 crore in the second quarter of FY23 due to an increase in finance and operating expenses
In Q2, integrated resource management, saw revenue growing over three times to Rs 30,435 crore YoY
Adani Enterprises, which entered the Nifty 50 stock index at the end of September, acts as an incubator for new businesses launched by the Adani Group
CLOSING BELL: IT, Power stocks logged significant losses, even as select financial stocks gained.