The transaction was launched after the market close on October 9 with a transaction size of Rs 4.2 billion ($500 million) and closed on October 15.
“The QIP experienced overwhelming demand, receiving bids of more than 4.2 times the deal size from a diverse group of investors, including long-term global investors, major Indian investors mutual fundsand insurance companies,” the company said in a statement.
This milestone underlines Adani Enterprises’ position as India’s largest large and scalable business incubator in the core sector. infrastructure which addresses the needs of India.
The company’s current incubation portfolio includes airports and highways in the transportation and logistics sector, new energy ecosystem (including solar and wind manufacturing), and data centers in the energy and utilities sector.
Its other businesses, including copper, PVC, defense and specialty manufacturing, focus on import substitution. QIP proceeds will be used to fund capital expenditure, debt payment and general corporate purposes.
SBI Capital Markets, Jefferies and ICICI Securities were the lead managers of the issue.
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