“Adani Enterprises Limited (AEL) has successfully completed the QIP of equity shares of face value of ₹1 each of AEL aggregating to approximately ₹4,200 crore ($500 million). A total of 1,41,79,608 equity shares were allocated at an issue price of ₹2,962 per equity share through the QIP,” the release highlighted.

Adani Enterprises raised Rs 4,200 crore through a share sale to investors via a QIP. The sale attracted bids over 4.2 times the deal size from various investors. Proceeds will be used for capital expenditure,

The firm allocated 1.41 crore equity shares to qualified institutional buyers at an issue price of Rs 2,962 per equity share, it said in a statement.