The Retail Portion of the offer will be at a discount of? 64 per FPO Equity Share for retail investors and such discount should be considered as part of the red herring prospectus dated January 18, 2023 (“RHP”) and should be read in conjunction with the RHP.
Adani Enterprises proposes to utilize 210,869 crore of the Net Proceeds of the FPO towards funding capital expenditure requirements of some of its subsidiaries in relation to certain projects of the green hydrogen ecosystem; improvement works of certain existing airport facilities; and construction of greenfield expressway. Adani Enterprises also proposes to utilize 4,165 crore to repay in full or part, certain borrowings of the Company and three of its subsidiaries, namely, Adani Airport Holding Limited, Adani Road Transport Limited, and Mundra Solar Limited. The rest will be utilized towards general corporate purposes.
The FPO Equity Shares offered through this Red Herring Prospectus are proposed to be listed on the Stock Exchanges.
The Book Running Lead Managers (“BRLMS”) to the Offer are ICICI Securities Limited, Jefferies India Private Limited, SBI Capital Markets Limited, Axis Capital Limited, BOB Capital Markets Limited, IDBI Capital Markets & Securities Limited, JM Financial Limited, IIFL Securities Limited, Monarch Net worth Capital Limited and Elara Capital (India) Private Limited.
The Offer is being made in terms of Regulation 155 of the SEBI ICDR Regulations. The Offer is being made in accordance with Regulation 129(1) of the SEBI ICDR Regulations and through a book building process wherein not more than 50% of the Net Offer shall be allotted on a proportionate basis to Qualified Institutional Buyers (“QIBS”, and such portion, the “QIB Portion”). The Company in consultation with the Book Running Lead Managers,
may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), out of which at least one-third shall be reserved for allocation to domestic Mutual Funds only, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor
Allocation Price, in accordance with the SEBI ICDR Regulations. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders other than Anchor Investors, including Mutual Funds, subject to valid Bids being received at or above the Offer Price.
Further, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders, in accordance with Regulation 129(1) of the SEBI ICDR Regulations, out of which (a) one third of such portion shall be reserved for Bidders with Bids exceeding 22,00,000 up to 210,00,000; and (b) two third of such portion shall be reserved for applicants with Bids exceeding 10,00,000, provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non-Institutional Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.
Further, not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders (“RIBs”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.
All potential Bidders, other than Anchor Investors, are required to mandatorily utilize the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective bank account (including UPI ID in case of UPI Bidders) in which the corresponding Bid Amounts will be blocked by the SCSBS, or by the Sponsor Bank(s) under the UPI Mechanism, as applicable to participate in the Offer.
