• Adani Enterprises Limited allocates 1,82,68,925 FPO equity shares at the upper price band of ₹ 3,276 per equity share (of which Application Bid Amount of Rs. 1,638/- per FPO Equity Share is paid by the Anchor Investors)
• High quality foreign institutional investors names like Abu Dhabi Investment Authority, Maybank Asia, Goldman Sachs, Nomura, Societe Generale, Jupiter, BNP Paribas, Al Mehwar, Citi group, Morgan Stanley participated in the FPO anchor book
• Top domestic investors such as SBI Employee Pension Fund, HDFC Life, Life Insurance Corporation of India, SBI Life and other salient names like MK Ventures were also a part of the FPO anchor book
• Non-anchor offer is open from Friday, January 27th, 2023 to Tuesday, January 31th, 2023
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 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 Societe Generale 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 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.
