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 the 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 anchor allocation is as follows:
S. No. | Name of Anchor Investor | No. of FPO Equity Shares allocated | Offer Price per FPO Equity Share (Rs.)* | Application Bid Amount per FPO Equity Share (Rs.) | Percentage of the Anchor Investor Portion (%) | Total Bid Amount at Offer Price for Allocated FPO Equity Shares (Rs.) | Total Application Bid Amount at the Anchor Investor Allocation Price being 50% of Offer Price for Allocated FPO Shares (Rs.) | Balance amount Payable for Allocated FPO Equity Shares (Rs.)# |
1 | Maybank Securities Pte Ltd | 62,27,108 | 3,276 | 1,638 | 34.09 | 20,40,00,05,808 | 10,20,00,02,904 | 10,20,00,02,904 |
2 | Abu Dhabi Investment Authority | 4,68,320 | 3,276 | 1,638 | 2.56 | 1,53,42,16,320 | 76,71,08,160 | 76,71,08,160 |
3 | State Bank Of India Employees Pension Fund | 3,05,248 | 3,276 | 1,638 | 1.67 | 99,99,92,448 | 49,99,96,224 | 49,99,96,224 |
4 | Life Insurance Corporation Of India | 9,15,748 | 3,276 | 1,638 | 5.01 | 2,99,99,90,448 | 1,49,99,95,224 | 1,49,99,95,224 |
5 | SBI Life Insurance Company Ltd | 3,81,560 | 3,276 | 1,638 | 2.09 | 1,24,99,90,560 | 62,49,95,280 | 62,49,95,280 |
6 | HDFC Life Insurance Company Limited | 61,048 | 3,276 | 1,638 | 0.33 | 19,99,93,248 | 9,99,96,624 | 9,99,96,624 |
7 | HDFC Life Insurance Company Limited – Shareholders Solvency Margin Account | 15,264 | 3,276 | 1,638 | 0.08 | 5,00,04,864 | 2,50,02,432 | 2,50,02,432 |
8 | Al Mehwar Commercial Investments L.L.C. – (Whiting) | 2,07,840 | 3,276 | 1,638 | 1.14 | 68,08,83,840 | 34,04,41,920 | 34,04,41,920 |
9 | ABS Direct Equity Fund LLC – India Series 1 | 70,720 | 3,276 | 1,638 | 0.39 | 23,16,78,720 | 11,58,39,360 | 11,58,39,360 |
10 | BNP Paribas Arbitrage | 7,63,128 | 3,276 | 1,638 | 4.18 | 2,50,00,07,328 | 1,25,00,03,664 | 1,25,00,03,664 |
11 | SocieteGenerale | 3,05,252 | 3,276 | 1,638 | 1.67 | 1,00,00,05,552 | 50,00,02,776 | 50,00,02,776 |
12 | Jupiter India Fund | 2,08,448 | 3,276 | 1,638 | 1.14 | 68,28,75,648 | 34,14,37,824 | 34,14,37,824 |
13 | Jupiter South Asia Investment Company Limited – South Asia Access Fund | 47,964 | 3,276 | 1,638 | 0.26 | 15,71,30,064 | 7,85,65,032 | 7,85,65,032 |
14 | Goldman Sachs Investment (Mauritius) I Ltd | 4,45,664 | 3,276 | 1,638 | 2.44 | 1,45,99,95,264 | 72,99,97,632 | 72,99,97,632 |
15 | Morgan Stanley Asia (Singapore) Pte | 2,50,308 | 3,276 | 1,638 | 1.37 | 82,00,09,008 | 41,00,04,504 | 41,00,04,504 |
16 | Nomura Singapore Limited | 1,95,364 | 3,276 | 1,638 | 1.07 | 64,00,12,464 | 32,00,06,232 | 32,00,06,232 |
17 | Citigroup Global Markets Mauritius Private Limited | 45,788 | 3,276 | 1,638 | 0.25 | 15,00,01,488 | 7,50,00,744 | 7,50,00,744 |
18 | Cohesion MK Best Ideas Sub-Trust | 2,00,000 | 3,276 | 1,638 | 1.09 | 65,52,00,000 | 32,76,00,000 | 32,76,00,000 |
19 | Winro Commercial (India) Limited | 10,22,588 | 3,276 | 1,638 | 5.60 | 3,34,99,98,288 | 1,67,49,99,144 | 1,67,49,99,144 |
20 | ELM Park Fund Limited | 10,35,108 | 3,276 | 1,638 | 5.67 | 3,39,10,13,808 | 1,69,55,06,904 | 1,69,55,06,904 |
21 | BOFA Securties Europe SA – ODI | 2,50,308 | 3,276 | 1,638 | 1.37 | 82,00,09,008 | 41,00,04,504 | 41,00,04,504 |
22 | Dovetail India Fund Class 6 Shares | 10,01,224 | 3,276 | 1,638 | 5.48 | 3,28,00,09,824 | 1,64,00,04,912 | 1,64,00,04,912 |
23 | Dovetail Global Fund PCC – Shree Krishna | 30,892 | 3,276 | 1,638 | 0.17 | 10,12,02,192 | 5,06,01,096 | 5,06,01,096 |
24 | Belgrave Investment Fund | 10,01,224 | 3,276 | 1,638 | 5.48 | 3,28,00,09,824 | 1,64,00,04,912 | 1,64,00,04,912 |
25 | Authum Investment and Infrastructure Limited | 6,10,504 | 3,276 | 1,638 | 3.34 | 2,00,00,11,104 | 1,00,00,05,552 | 1,00,00,05,552 |
26 | The Great International Tusker Fund | 4,51,772 | 3,276 | 1,638 | 2.47 | 1,48,00,05,072 | 74,00,02,536 | 74,00,02,536 |
27 | Ayushmat Ltd | 4,24,525 | 3,276 | 1,638 | 2.32 | 1,39,07,43,900 | 69,53,71,950 | 69,53,71,950 |
28 | Rajasthan Global Securities Private Limited | 4,02,932 | 3,276 | 1,638 | 2.21 | 1,32,00,05,232 | 66,00,02,616 | 66,00,02,616 |
29 | Coeus Global Opportunities Fund | 3,05,248 | 3,276 | 1,638 | 1.67 | 99,99,92,448 | 49,99,96,224 | 49,99,96,224 |
30 | Aviator Global Investment Fund | 2,28,940 | 3,276 | 1,638 | 1.25 | 75,00,07,440 | 37,50,03,720 | 37,50,03,720 |
31 | Tara Emerging Asia Liquid Fund | 1,52,628 | 3,276 | 1,638 | 0.84 | 50,00,09,328 | 25,00,04,664 | 25,00,04,664 |
32 | MAIQ Growth Scheme-Long Only | 1,31,260 | 3,276 | 1,638 | 0.72 | 43,00,07,760 | 21,50,03,880 | 21,50,03,880 |
33 | Resonance Opportunities Fund | 1,05,000 | 3,276 | 1,638 | 0.57 | 34,39,80,000 | 17,19,90,000 | 17,19,90,000 |
Total | 1,82,68,925 | 100 | 59,84,89,98,300 | 29,92,44,99,150 | 29,92,44,99,150 |
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 investorsand 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.
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