January 30, 2023
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Adani Enterprises FPO Analysis @ Chanakyanipothi.com,
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# Adani FPO on Track. No change in price or other terms
Adani Enterprises on Saturday said its FPO will continue as per schedule without any changes in the price band, quelling speculation about changes being made after a tepid investor reception on the first day.
# Adani Group’s Presentation submitted to BSE & NSE, in response to Hindenburg Report,
In a letter to BSE & NSE ltd, Adani Enterprises ltd has submitted a Presentation covering Adani Group’s response to Hindenburg Report, which states as under:
Further to our media statements, please find enclosed herewith Presentation covering Adani Group’s response to Hindenburg Report with respect to Adani Group listed entities.
The same is uploaded on the weblink.. click https://www.adani.com/-/media/Project/Adani/Invetsors/Adani%20Portfolio%20January%202023%20Gl
obal%20Call%20Short%20Seller%20Response
Anchor Subscriptions Received
Ahead of its Rs. 20000 cr. IPO, today Adani Enterprises Ltd. allocated 1.83 crore shares amounting to Rs 5,985 crore under the anchor portion, to 33 buyers. The anchor investors included Maybank Securities, Abu Dhabi Investment Authority, Life Insurance Corp. of India, SBI Life Insurance Co., HDFC Life Insurance Co., BNP Paribas Arbitrage, Societe Generale, Goldman Sachs, Nomura,
The anchor investor allocation price was Rs 3,276 per share. The buyers paid 50% of the share price as an application amount with Rs 2,992.5 crore, as half the funds raised from the anchor portion. The balance amount of Rs 2,992.5 crore will be raised on one or more subsequent calls, as determined by the company’s board or a committee thereof from time to time.
Adani Enterprises FPO Grey Market updates
on 30 January 2023,
GMP Rs.75
Retail ( Rs.12592 Appli) Kostak: Rs.600
Retail (Rs. 1L/64 Shares applications: Rs.2000
for Rs. 5 L Application: Rs.7200
for Rs.10 L application: Rs.8200
Adani Enterprises FPO Subscription Status
On 30 January 2023 @ 12.30 pm (Day1)
QIB 12821336 Sh: 0.00T
NII 10L+ 6410668 Sh: 0.01T
NII upto 10L 3205655 Sh: 0.01T
RII 22908464 Sh: 0.03T
Emp 160668 Sh: 0.09T
Total 45506791 Sh: 0.02T
Adani Enterprises FPO Promoters
Gautam Adani & Rajesh Adani
Adani Enterprises FPO Company Details
Adani Enterprises Limited (AEL) is the flagship company of the Adani Group, one of India’s largest business organisations. Over the years, Adani Enterprises has focused on building stellar infrastructural assets contributing to nation-building.
Having successfully built unicorns like Adani Transmission, Adani Power, Adani Ports & SEZ, Adani Green Energy and Adani Total Gas, the company has contributed significantly to make the country self-reliant.
The next generation of its strategic business investments are centered on the fields of airport management, roads, data center and water infrastructure. Following these principles has led to very strong returns to our shareholders. A one-rupee investment in Adani Enterprises, which was the group’s first IPO in 1994, has returned over 800x.
For more information, click https://www.adanienterprises.com
Objects of the IPO
The net proceeds would also be spent on repayment of borrowings of subsidiaries – Adani Airport Holding, Adani Road Transport, and Mundra Solar Limited. The fund-raising will help the conglomerate fund capital expenditure requirements of subsidiaries in certain projects of the green hydrogen ecosystem, improvement works of certain existing airport facilities and construction of greenfield expressway.
| Adani Enterprises FPO Details | |
| IPO opens on | 27 January ,2023 |
| IPO closes on | 31 January ,2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | ? Sh /Rs 20000 Cr |
| * Fresh Issue | ? Sh /Rs 20000 Cr |
| * Offer for Sale | up to NIL Shares /Rs NIL Cr |
| Face Value per share: | Rs. 1 |
| Price Band | Rs. 3112-3276 |
| Retail Discount | Rs 64 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 4 Shares |
| Listing will at | BSE, NSE |
| Shares offered to | Shares | Rs. in Cr |
| QIB (50 %) | 30448717 | 9975 |
| NII (15 %) | 9134615 | 2992.50 |
| RII (35 %) | 21738792 | 6982.50 |
| Employees | 152625 | 50 |
| Total Shares | X | 20000 |
| Retail portion will be oversubscribed by | 5434698 Forms. | |
| How much Shares to Apply? | Net of RII discount | |
| Min Retail Application | 4 Sh | Rs. 12848 |
| Max Retail Application | 60 Sh | Rs. 192720 |
| Small HNI (Min) application | 64 Sh | Rs. 209664 |
| Small HNI (Max) application | 304 Sh | Rs. 995904 |
| Big HNI Application | 308 Sh | Rs. 1009008 |
| Adani Enterprises FPO Tentative timetable | |
| IPO opens on | 27 Jan 2023 |
| IPO Closes on | 31 Jan 2023 |
| IPO Allotment on | 3 Feb 2023 |
| Unblocking of ASBA | 6 Feb 2023 |
| Credit of Shares | 7 Feb2023 |
| Listing on | 8 Feb 2023 |
| Registered Office of Adani Enterprises FPO | |
| Adani Corporate House Shantigram, Near Vaishnodevi Circle, S G Highway, Ahmedabad-382421, Gujarat, India. |
|
| Lead Managers ICICI Securities, Jefferies and SBI Capital Markets |
|
| Registrar to IPO | |
| Link Intime India Pvt Ltd |
| Adani Enterprises FPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2019-20 | 44086 | X | 10.35 | 5.71 |
| 2020-21 | 40291 | X | 8.39 | 5.53 |
| 2021-22 | 70433 | X | 7.06 | 2.93 |
| Book Value of the Share on | 31.03.2022 | Rs.244.84 | ||
| Book Value of the Share | after the FPO | Rs.467.73 | ||
| Offer Price at Cap | Rs. 3276 | |||
| Ratio Analysis | |
| Upper Price /last EPS | 464 |
| Upper Price/Book Value Ratio | 13.4 |
| Upper Price/BV after IPO | 7 |
Adani Enterprises FPO Peer Comparison
| As on date of RHP | Total Income Rs. | Face | PE |
| Income | Value | Ratio of | |
| Rs. In Cr | Rs | ||
| The IPO Company | X | – | – |
| X | X | – | – |
| X | X | – | – |
| X | X | – | – |
| X | X | – | – |
| X | X | – | – |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
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When can we expect IPO of Adani Airports?
Such growth is possible only with political support.If Modi goes, the Adani also goes.
The group companies have provided bumper returns to it investors. Even the person who invested in Adani Enterprise has been rewarded in lacs durng last15 years. So such FPO at high price justified.
The FPO is offered at very huge price to earning multiple. The market price is too high and due to excessive market price, the management is trying to justify the bumper FPO price?
Is it okay? or there are chances that the story of Paytm can repeat itself.
The investors appear to be very excited about this FPO. The question is why the World’s so called richest person require a petty sum of Rs. 20000 Cr.? and admin pleae elaborate about the debt burden on the group and whether the huge debt can pull down the group? Every investor is curious to know these facts.