Adani Enterprises Limited, the flagship company of Asia’s richest industrialist Gautam Adani’s business group, is going to bring a follow-on public offer (FPO) of Rs 20,000 crore.
Under this offer, the company will raise the entire amount by issuing fresh equity shares. The proposal was approved in the company’s board meeting held in Ahmedabad on Friday.
Adani Enterprises has given this information in the stock exchange filing. This issue of Adani Group will be the biggest FPO in the country.
Current shareholding pattern of Adani Enterprises
Currently, promoter holding in Adani Enterprises Limited is 72.63 per cent, while FIIs hold 15.59 per cent, general public 6.46 per cent and mutual funds hold 1.27 per cent of the company’s shares.
After the issue of FPO, the public’s stake in the company will increase, due to which more shares will be available for trading in the stock market than before. This will also increase the trading volume of the company’s shares.
Yes Bank raised 15 thousand crores from FPO
Earlier on November 22, the company had said that the proposal to raise funds would be considered in the board meeting to be held on November 25. After passing the proposal of FPO in the board meeting, now there is a plan to take the approval of the shareholders through postal ballot. This issue of 20 thousand crore rupees will be the biggest FPO in the country.
Earlier, Yes Bank raised Rs 15,000 crore through FPO in July 2020, which is the largest FPO in the country so far.
What is FPO? Why is it different from IPO?
Under FPO that is follow-on public offer, a public company already listed in the stock market raises funds by issuing its new shares, while Initial Public Offer that is IPO is such a public issue, in which a company issues its shares to the public for the first time. From Private Limited to Public Limited Listed Company is transformed.
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