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Adani to launch ₹20,000 crores FPO, set to expand in Water Segment

Seen as a key element for its core business of infrastructure, Adani Enterprises is eying to expand into the water segment by mining the water purification, treatment, and distribution areas. With a diverse business portfolio across roads, airports, ports, expressways, power generation, and distribution, Adani Enterprises, the Group’s flagship company is poised to launch the second largest FPO (follow-on public offer) next week.

While addressing media in Milan, Jugeshinder Singh, the group’s chief financial officer disclosed that Adani Enterprises has fixed the price band for the ₹20,000-crore FPI in the range of ₹3,112-3,276 per equity share. Jugeshinder furthered, “Being the largest infrastructure player, and having been there in almost the entire spectrum of this critical segment for the past two decades or so, we’re very keen on tapping the water segment by entering water purification, treatment, and distribution areas.”

He mentioned that as the company does a lot of projects or company incubations this will also be part of its incubation project, nothing has been fixed yet, the company is in its initial phase of studying and identifying the scope and opportunities and thinking of possible acquisitions or joint venture projects. Mr. Singh stated that water being the primary element in any infrastructure segment, the organization is keen on its expansion in the same. Adani Enterprises fixed a price band of ₹3,112 to ₹3,276 for each share in its announcement of its FPO for raising ₹20,000 crores. Moreover, the organization also announced a special discount of ₹64 per share for its retail customers in the said FPO.