Industrialist Gautam Adani

Gautam Adani's flagship company is offering investors a discount of 10-15 per cent in India's biggest follow-on share sale.

This is an effort towards the company to strengthen its supporters base.

According to an exchange filing by Adani Enterprises Ltd, it is looking to raise $2.5 billion by selling shares in the price band of Rs 3,112 to Rs 3,276.

Bloomberg News had earlier reported that large investors would get a 10 percent discount to the current market price, while retail investors would pay even less to buy.

This company market value has almost doubled in the last one year.

About half of the money raised will be spent on expanding Adani's airport and renewable energy projects, while 42 billion rupees - a little less than a quarter of the amount raised - will be used to finance debt, the company said in its prospectus released on Wednesday. Will be done to reduce.

Major investors will be able to bid on January 25 and the rest from January 27 to January 31.

In a rare move for a follow-on sale, Asia's richest man will allow investors to pay in installments for his purchase.

The bidders will have to pay 50% of the offer value as advance payment, followed by the balance amount in one or two installments.

Retail investors will get a discount of Rs 64 per share.

The massive stake sale will help Adani meet multiple targets.

Broadening its investor base will make it easier for the Adani group to defend against allegations that their empire consists mainly of thinly traded stocks;

Paying off the loan will also solve many other concerns.

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