Adani Enterprises Limited (BSE:512599) may soon come out with further public offering or preferential allotment to raise funds. The company on November 22, 2022 informed stock exchanges that a board meeting would be held on this November 25, 2022, in Ahmedabad to consider and approve the proposal of raising of funds. The fund raising could be done by way of further public offering, preferential allotment (including a qualified institutions placement or through any other permissible mode) and/or combination thereof as may be considered appropriate, by way of issue of equity shares or any other eligible securities, it said.
According to reports, the share issue could be worth at least $1.8 billion and launched in 2023. The company was earlier said to be in talks with at least half a dozen sovereign and global pension funds and energy majors, such as the Abu Dhabi Investment Authority (ADIA), the Qatar Investment Authority (QIA), a BNP Paribas arm and TotalEnergies SE, to raise up to $2 billion in equity sales. The issue would diversify the shareholder base and build the firm's credibility and acceptance among investors, the people said.