The company allotted 1,000 Rated, Listed, Secured, Redeemable, Principal Protected Market Linked Non-Convertible Debentures (“MLD").
On BSE, Adani Enterprises shares closed at ₹3,778.90 apiece surging by ₹77 or 2.08% after touching an intraday high of ₹3,800 apiece. The company's market cap is around ₹4,30,795.02 crore. Overall, Adani shares climbed by at least 2.65% in the day.
Adani is a multibagger stock. In a year, this Adani shares have skyrocketed by a breath-taking nearly 166% on Dalal Street.
Recently, the Gautam Adani's Group completed the acquisition of major Indian cement players, Ambuja Cements and ACC -- becoming the second largest cement player in the country. Last week, Holcim closed the deal with Adani Group by selling its entire stake in Ambuja Cements at ₹385 per share and in ACC at ₹2,300 per share. The cash proceeds aggregated to 6.4 billion dollars for Holcim.
Last month, Adani Enterprises-backed Vishvapradhan Commercial Private Limited (VCPL) exercised the rights to acquire 99.5% of the equity shares of RRPR Holding Private Limited, a promoter group company of NDTV. VCPL is a wholly-owned subsidiary of AMG Media Networks which is a 100% wholly-owned subsidiary of Adani Enterprises. This will trigger an open offer to acquire up to 26% stake in NDTV in terms of SEBI’s Takeover Regulations.
In Q1FY23, Adani Enterprises posted a consolidated net profit of ₹469.46 crore compared to ₹271.46 crore in the same quarter last year - registering a growth of 72.94%. Consolidated revenue from operations came in at ₹40,844.25 crore in Q1FY23 - rising by 3.25 folds or 224.71% from ₹12,578.77 crore in Q1FY22.
Adani Enterprises is the flagship company of the Adani Group, one of India's largest business organisations. Over the years, Adani Enterprises has focused on building stellar infrastructural assets contributing to nation-building.
