Adani Enterprises Limited [Follow-on] IPO Closed

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IPO date 27 Jan 2023 – 31 Jan 2023
Listing date 08 Feb 2022
Price range 3112 – 3276
Minimum order quantity 4
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Adani Enterprises Limited (AEL) is part of the Adani Group, which is amongst the top business houses with an integrated energy and infrastructure platform in India. AEL is one of India’s largest listed business incubators in terms of market capitalization with businesses in four core industries: energy and utility, transportation and logistics, consumer, and primary industry.

Since its inception, AEL has incubated six businesses and listed them, including by way of demergers. The listed companies include Adani Ports and Special Economic Zone Limited, Adani Power Limited, Adani Transmission Limited, Adani Green Energy Limited, Adani Total Gas Limited, and Adani Wilmar Limited.

As of December 31, 2022, the Adani group had a market capitalization of Rs. 18,402 billion and are one of the largest listed group by market capitalization in India and has a presence in the following sectors; airports & roads, agro, data center, defense & aerospace, edible oil & foods, integrated resource management, metro & rail mining services, solar manufacturing, water.

Through its follow-on public offer, AEL is issuing fresh equity shares worth Rs. 20,000 crores on a partly-paid basis. This means when you apply for the FPO, you will only be making part payment while the remaining payment will be collected as and when the company makes a call to do so.

Payment Schedule (at upper price band)

Retail HNI1 (Rs. 2 lakhs to 10 lakhs) HNI2 (Rs. 10 lakhs and above)
On Application Rs. 1574 (Including discount of Rs. 64) Rs. 1638 Rs. 1638
On one or more subsequent calls made by the company Rs. 1638 Rs. 1638 Rs. 1638
Maximum application size 60 shares 304 shares 924 shares

Financial Snapshot of Adani Enterprise Limited

Financial Year ROE ROCE Total Revenue (₹ crores) Profit After Tax (₹ crores) EBITDA (₹ crores)
March 2020 6.70% 12.00% 44,086.21 1,138.17 2,967.96
March 2021 5.40% 11.40% 40,290.93 922.64 3,258.85
March 2022 3.50% 9.20% 70,432.69 776.56 4,725.71
As of September 2022 5.90% 6.20% 79,507.89 930.40 4,100.15

FPO Schedule of Adani Enterprise Limited

Issue Period 27th January to 31st January 2023
Finalization of Allotment 3rd February 2023
Initiation of Refunds 6th February 2023
Credit of Shares 7th February 2023
Date of Listing 8th February 2023
Mandate end date 15th February 2023
Anchor Investors Lock-In End Date 2nd March 2023

What is Follow-on Public Offer (FPO)?

A follow-on public offer (FPO) is the process of issuing shares to investors or existing shareholders by a public company that is already listed on an exchange. An FPO is essentially a stock issue of additional shares made by a company that is already publicly listed and has gone through the IPO process. FPOs are popular methods for companies to raise additional equity capital in the capital markets through a stock issue and diversify their equity base.

How do I apply to the Adani Enterprises Limited FPO?

You can apply for the Adani Enterprises Limited FPO using any supported UPI app by following two steps:
  • Enter your bid on Kite
  • Accept the UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.

Where do I check the allotment status for Adani Enterprises Limited FPO?

You can check the allotment status for the Adani Enterprises Limited FPO on the website of the Registrar and Transfer agent.

Alternatively, you can also check the allotment status on the NSE website.