Trading started on October 9 during post-market hours with a deal size of Rs 4,200 crore ($500 million) and closed on October 15.
“The QIP saw overwhelming demand, receiving bids in excess of 4.2x the deal size from a diverse group of investors, including global long investors, large Indian mutual funds and insurance companies,” the company said in a release.
This milestone underscores Adani Enterprises’ position as India’s largest listed incubator with a scalable and large business in core infrastructure that addresses India’s needs.
The company’s current incubation portfolio includes airports and roads in the transport and logistics sector, new energy ecosystems (including solar and wind manufacturing) and data centers in the energy and utilities sector.
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Its other businesses focus on import substitution, including copper, PVC, defense and specialty manufacturing.
Proceeds from the QIP will be used to fund capital expenditures, debt repayments and general corporate purposes.
SBI Capital Markets, Jefferies and ICICI Securities were the book running lead managers for the issue.
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