close

Gautam Adani's discount share sale tries to woo public, silence critics

The share sale 'allows us to increase the participation of the Indian public. Every household of rural India can invest in it'

Bhuma Shrivastava and P R Sanjai | Bloomberg
adani
Premium

adani

Indian tycoon Gautam Adani, who added $40 billion to his wealth last year after a blistering stock rally, wants validation from the investing public and critics who question the forces pushing up his companies’ share prices.
To woo mom-and-pop investors to buy into his ports-to-power empire’s flagship, Adani Enterprises Ltd. will sell new shares at a discount and allow payments in three installments when it rolls out its $2.5 billion follow-on offer later this month — an unprecedented move for one of the country’s hottest stocks. For a stock that has rallied over 1,400% since early 2020, sweeteners are crucial to woo retail investors. 

The country’s biggest follow-on share sale serves many ends. A diversified shareholder base gives greater credibility in the stock market and cements Adani’s legacy as a wealth creator for millions of investors, not just himself. A bigger constituency of shareowners may trigger more analys

Or

Also Read

Sebi puts Warburg Pincus-backed Biba Fashion's IPO in 'abeyance'

Warburg Pincus to acquire majority stake in MSME lender Vistaar Finance

Princeton Digital Group launches $300 million data centre in Mumbai

Audio gear, wearable tech firm boAt raises $60 mn, defers IPO plan

Snapdeal to shelve its $152 million IPO amid tech stock market retreat

Will Adani Enterprise shares hit fresh record highs ahead of FPO?

Moody's upgrades ratings for PNB, Canara Bank and Bank of Baroda to 'Baa3'

Hindustan Unilever slips 4% as royalty payout hike raises margin concerns

Hindustan Zinc to acquire Vedanta's international zinc biz; stock slides 9%

MARKET LIVE: Sensex reverses loss, gains 100 pts; Nifty50 above 18,100

First Published: Jan 20 2023 | 11:02 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers. Already a BS Premium subscriber?LOGIN NOW

Register to read more on Business-Standard.com