AEL’s current incubation portfolio includes airports and routes in the transport and logistics sector.

Ahmedabad:

Adani Enterprises Limited (AEL) on Thursday announced that it has completed the Qualified Institutional Placement (QIP) of equity shares of face value of Rs 1 each of AEL (“Equity Shares”), aggregating approximately Rs 4,200 crore ( 500 million dollars).

According to Adani, a total of 1,41,79,608 equity shares were allotted at an issue price of Rs 2,962 per equity share through the QIP.

The transaction was launched post-market on October 9, 2024 with an amount of approximately INR 4,200 crore ($500 million) and closed on October 15, 2024.

QIP has seen overwhelming demand, receiving bids of approximately 4.2 times the deal size from a diverse group of investors, including long-term global investors, large Indian mutual funds and insurance companies.

This underlines AEL’s position as India’s largest listed incubator of large, scalable businesses in core infrastructure that meet India’s needs.

AEL’s current incubation portfolio includes airports and roads in the transport and logistics sector, new energy ecosystem (including solar and wind manufacturing) and data centers in the energy sector and public services. AEL’s other businesses, including copper, PVC, defense and specialty manufacturing, focus on import substitution and meet India’s vision of Atmanirbhar Bharat.

Proceeds from the QIP will be used to fund capital expenditures, debt repayment and general corporate purposes. SBI Capital Markets Limited, Jefferies India Private Limited and ICICI Securities Limited were the lead bookrunners of the issue (“BRLM”).

Additionally, Cantor Fitzgerald & Co. acted as advisor on the offering. Cyril Amarchand Mangaldas acted as legal advisor to AEL with respect to Indian law and Trilegal and Latham & Watkins LLP acted as legal advisors to BRLM with respect to Indian law and international law, respectively .

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