June 25, 2024

ADANI ENTERPRISES LIMITED RAISES ₹ 5,985 CRORE FROM 33 ANCHOR INVESTOR AT A UPPER PRICE BAND OF ₹ 3,276 PER EQUITY SHARE

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Adani Enterprises Limited allotted 1,82,68,925 FPO equity shares at the upper price band of ₹ 3,276 per FPO equity share (of which Application Bid Amount of Rs. 1,638/- per FPO Equity Share is paid by the Anchor Investors) to 33 anchor investors and raised ₹ 5,985 crore ahead of the company’s proposed IPO. The healthy and diversified FPO anchor book is an indicator of company’s overall investor confidence in the strong business fundamentals of the company.

A balance amount of Rs. 1,638/- per FPO Equity Share and a total balance amount of Rs. 2,992 crores for 1,82,68,925 FPO Equity Shares allotted to Anchor Investors is payable by the Anchor Investors on one or more subsequent Call(s), as determined by the Company’s Board of Directors or a committee thereof at its sole discretion, from time to time.

The Price Band for the FPO Offer has been fixed from ₹ 3,112 to ₹ 3,276 per FPO Equity Share. Bids can be made for a minimum of 4 FPO Equity Shares and in multiples of 4 FPO Equity Shares thereafter. The FPO Offer will close on Tuesday January 31, 2023. UPI mandate end time and date shall be at 5.00 p.m. on the Bid/ Offer Closing Date.

The Retail Portion of the offer will be at a discount of ₹ 64 per FPO Equity Share for retail investors and such discount should be considered as part of the red herring prospectus dated January 18, 2023 (“RHP”) and should be read in conjunction with the RHP.

Adani Enterprises Ltd proposes to utilise ₹ 10,869 crore of the Net Proceeds of the FPO towards funding capital expenditure requirements of some of its subsidiaries in relation to certain projects of the green hydrogen ecosystem; improvement works of certain existing airport facilities; and construction of greenfield expressway. Adani Enterprises also proposes to utilise ₹` 4,165 crore to repay in full or part, certain borrowings of the Company and three of its subsidiaries, namely, Adani Airport Holding Limited, Adani Road Transport Limited, and Mundra Solar Limited. The rest amount will be utilised towards general corporate purposes.

The FPO Equity Shares offered through this Red Herring Prospectus are proposed to be listed on the Stock Exchanges.

ICICI Securities Limited, Jefferies India Private Limited, SBI Capital Markets Limited, Axis Capital Limited, BOB Capital Markets Limited, IDBI Capital Markets & Securities Limited, JM Financial Limited, IIFL Securities Limited, Monarch Networth Capital Limited and Elara Capital (India) Private Limited are “The Book Running Lead Managers” to the FPO issue.