Adani Enterprises shares tumble 2% after company approves Rs 4,200 crore share sale via QIP
Shares of Adani Enterprises fell by 2% to their day’s low of Rs 3092.10 on the BSE after after the company approved Rs 4,200 crore share sale to large investors via qualified institutional placement (QIP) issue.
The floor price for the same has been set at Rs 3,117.4750 per share.
The issue opened on Wednesday and the Adani Group company has the discretion to offer a discount of up to 5% on the floor price.
SBI Capital Markets Limited, Jefferies India Private Limited and ICICI Securities Limited have been appointed as the book running lead managers (BRLMs) for the issue while Cantor Fitzgerald & Co. has been appointed as an advisor in connection with the issue.
The company’s QIP committee had accorded its approval for the issue in its May…
