Adani Enterprises: Adani Enterprises’ QIP sees healthy demand of Rs 4,200 crore through issuance.

Adani Enterprises has successfully completed its Qualified Institutional Placement (QIP), raising nearly Rs 4200 crore. The company has allotted 1.41 billion shares at an issue price of Rs 2,962 per share.

The transaction began during after-market hours on October 9 and closed on October 15 with a transaction size of Rs 4,200 crores ($500 million).

The company said, “QIP showed overwhelming demand, receiving bids exceeding 4.2 times the transaction size from various investor groups, including global long-term investors, major Indian mutual funds, and insurance companies.”

This milestone highlights Adani Enterprises’ position as India’s largest listed incubator, providing scalable, large-scale businesses on core infrastructure that meets India’s requirements.

The company’s current incubation portfolio includes airports and roads in the transportation and logistics sector, new energy ecosystems (including solar and wind manufacturing), and data centers in the energy and utilities sector.

Other businesses, including copper, PVC, defense and specialty manufacturing, are focused on import substitution. Proceeds from the QIP will be utilized to finance capital expenditures, repay debt and for general corporate purposes.

SBI Capital Markets, Jefferies and ICICI Securities served as lead managers for the matter.