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Adani Discounts India’s Biggest Follow-On Share Sale by 10%-15%

  • Flagship firm’s stock has rallied about 95% over past year
  • Bidding runs Jan. 25-31 for various sets of investors: filing
Gautam Adani

Gautam Adani

Photographer: Edwin Koo/Bloomberg
Updated on

Gautam Adani’s flagship is offering investors discounts of 10%-15% in India’s biggest follow-on share sale as the billionaire tries to woo a wider set of backers.

Adani Enterprises Ltd. is seeking to raise 200 billion rupees ($2.5 billion) by selling shares in a price band of 3,112 rupees to 3,276 rupees a piece, according to an exchange filing Wednesday. Bloomberg News reported earlier that large investors would get a concession of 10% on the current market price while retail investors would pay even less to buy into a company that has almost doubled in market value over the past year.