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.
CareEdge has assigned 'A+' to the proposed issuance of debentures. It also reaffirmed ratings for long-term bank ratings 'A+' and short-term facilities 'A1+'
Adani Ports' seven dollar-denominated notes have lost about 14% on average so far this year, while Adani Electricity Mumbai's 2030 securities have retreated about 17%.
Stocks to watch today: Adani Enterprises' subsidiary has acquired aircraft maintenance repair and overhaul unit Air Works for Rs 400 crore
The MRO firm, which has six investors, received its first external funding from GTI Group and Punj Lloyd in 2007
Indian billionaire Gautam Adani-led Adani Enterprises Ltd on Friday said it was not evaluating a proposal to acquire Jaiprakash Associates Ltd's cement business.