Adani Enterprises on July 2 said its Qualified Institution Placement (QIP) has been launched today at a floor price of Rs 3,034.68 per share.
The floor price is at 4% discount to current market price of Rs 3,165 per share.
SBI Capital Markets Limited, Jefferies India Private Limited, ICICI Securities Limited and IIFL Capital Services Limited have been appointed as the book running lead managers (BRLMs) for the Issue.
The issue price will be determined by the Company in consultation with the BRLMs.
Meanwhile, Abu Dhabi's International Holding Company plans to invest $11.5 billion in an integrated aluminium project in Odisha through a joint venture with Adani Group, a state official said on Thursday, in what would be the country's largest foreign investment in the metals sector.
The investment comes as India seeks to expand domestic aluminium production to meet growing demand from the infrastructure, power, transport and renewable energy industries, while reducing reliance on imports of value-added metal products.
Under the Memorandum of Understanding (MoU), IHC and Adani Group will each hold a 50% stake in the venture, which will comprise a refinery, a smelter, a captive power plant and downstream aluminium manufacturing park, creating the state's largest aluminium complex.
The project will have an annual capacity of 4 million tons of alumina, 2 MTPA of aluminum capacity and 1 MTPA of downstream aluminium facilities.
The project is expected to create 53,500 jobs, with 35,000 during construction and another 18,500 once operations begin, the official said at the MoU signing ceremony.
Adani Group, led by billionaire Gautam Adani, does not currently operate an aluminium manufacturing facility, though it has announced plans for alumina refining and aluminium projects in Odisha.
Its flagship firm Adani Enterprises operates a $1.2 billion copper smelter, the world's largest single-site plant of its kind, in the western Indian state of Gujarat.