The follow-on public offer (FPO) of Adani Enterprises, the flagship company of billionaire Gautam Adani’s conglomerate, will open for subscription on January 27 and close on January 31. The company has fixed a floor price of Rs 3,112 per equity share and cap price at Rs 3,276 per share.
Vinit Bolinjkar Of Ventura Securities believes there is significant upside potential for the current price. “Since they announced the FPO with a 10-13 per cent discount, I believe the price could trend down over the next few days,” he told ET NOW.
The Rs 20,000 crore worth equity shares that Adani is undertaking right now is actually just the tip of the iceberg of the massive expansion plan that is going to play out in the company in the coming future, Bolinjkar explained.
