Adani Enterprises to raise funds through public offering

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Adani Enterprises to raise funds through public offering

Adani Enterprises said in a stock exchange filing that the board approved raising funds through a public offering FPO The board approved raising funds by the way of a public offering through Equity Shares by the Company, up to Rs 20,000 crore, the flagship Adani Group firm said.

The company's scrip on the BSE was trading 1% lower at Rs 3,878 at the time of 1450 hours on Friday.

Adani Group chairman Gautam Adani is planning to invest more than $4 billion in a petrochemical complex in Gujarat, he said in an interview with the Financial Times on Friday.

Adani, Asia's richest person, plans to launch a super app in the next three to six months to connect Adani airport passengers with other Adani Group services, according to the report.

According to Bloomberg's calculations, the shares of Adani Enterprises have risen about 130% in the year to date, giving it a market value of around $56.3 billion.

Adani's group hopes to raise $10 billion in new debt over the next year, as the conglomerate seeks to refinance its high-cost borrowings and fund projects in the pipeline, Bloomberg reported last month.