Detailed information about FPO
Adani Enterprises’ FPO will open for subscription in the market on January 27, 2023. The cap price of the FPO for all categories of investors has been fixed at Rs 3,276 per share, under which the minimum lot will be four shares. Investors can subscribe till January 31, while shares will be allotted on February 3 after the Budget. Apart from this, 6th February for refund and 7th February for depositing shares in demat account has been fixed. So the listing of shares will be done on February 8, 2023. Anchor investors can bid in Adani Enterprises’ FPO till January 25.
What is FPO?
When a listed company needs funds, promoters or major shareholders wait for FPOs. Any investor can buy shares of the company during the FPO.
Meanwhile, talking about the performance of the Adani group company, the stock has returned 94 percent to its investors over the past year. On the other hand, the stock has gained more than 1,750 percent in the last five years. At the same time, the company’s shares have registered impressive growth, returning 25 times to investors since its listing in the market.
Investment opportunity at a discount
It has been decided to offer shares to retail investors at a discount of 10 percent per share. Accordingly, Adani Enterprises will offer a discount of 64 per equity share in the FPO to investors bidding in the retail portion. After the FPO, the promoters’ stake in the company will come down to 3.5 percent.
Know the complete timeline
Adani Enterprises’ FPO will open for subscription on January 27, while subscriptions can be taken till January 31. While allotment of shares will be done on 3rd February, refund on 6th February and shares will be credited to demat account on 7th February 2023 and its listing will be done on 8th February 2023. The floor price of the company is Rs. 3,112 per equity share while the cap price for all categories of investors is Rs. 3,276 per share has been fixed.