Shares of multibagger Adani Enterprises can be available at a discount? Rs 20,000 crore FPO will come

Adani Enterprises Share Price: The follow-on public offer (FPO) of Adani Enterprises, the flagship multibagger company of Adani Group chairman Gautam Adani, may come. The company is preparing to raise around Rs 20,000 crore from the market through its FPO. The company has called a board meeting in Ahmedabad on Friday, November 25, 2022, to raise funds, in which it has been said to raise funds through public offering, preferential allotment or both. The FPO of Adani Enterprises will be the largest FPO to be launched by a company in the history of India’s stock market. Let us tell you that the company bringing FPO always raises money from the market through FPO at a discount from its current price level.

public float is very low
According to BSE data, the promoter has 72.63 per cent stake in Adani Enterprises. FPO will help in increasing the public float in the stock. Adani Enterprises has been included in the top 10 companies of the country in terms of market cap, but the public float holding is only 27.37 percent, which is very less compared to Reliance Industries, other companies of the size of Adani Enterprises. The public float in Reliance Industries is 49.43 per cent.

FPO may come before March 2023
It is believed that after getting the approval from the board, if the sentiment of the stock market is better, then the FPO of Adani Enterprises can be issued in this financial year 2022-23. Foreign investors hold 15.59 per cent stake in Adani Enterprises while public shareholding is 6.46 per cent and domestic institutional investors like mutual funds hold 1.27 per cent shares. Among domestic institutional investors, LIC has the largest number of shares in Adani Enterprises.

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Share increased 30 times in 2.5 years
The listing of Adani Enterprises on the stock exchange took place in 1994. During the Corona period, the company has given multibagger returns to its shareholders. The share of Adani Enterprises is trading at Rs.3942 on Wednesday. When the lockdown was declared in the country on 24 March 2020, the stock was trading at Rs 125. Since then the stock has given 3000 per cent returns. A year ago, the stock of Adani Enterprises was trading at Rs.1700. That is, in the last one year, the stock has given more than 130 percent return to its investors. On October 17, 2022, the stock was trading at Rs.3136. From there, the stock has jumped more than 25 percent.

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