Adani Enterprises, Adani Group’s flagship firm, on Wednesday has sought Rs 20,000 crore through follow-on public offer before the Union Budget on February 1, as per the prospectus issued on Wednesday.
The FPO will open on January 27 and close on January 31. The investor bidding date has been fixed for January 25.
The firm said it will use the funds from FPO for capex requirements of some units.
Gaudam Adani-led Adani Enterprises said it will use Rs 10,900 crore from FPO to fund green hydrogen projects, airports, expressways businesses. In its FPO prospectus, the firm said it will use the money from FPO to repay borrowings of three units.
On Wednesday, the company’s scrip on BSE closed 1.5% lower at Rs 3,584.90.