Adani Enterprises hits 2-mth low, down 4% on setting FPO price at discount

The company has set a price band of Rs 3,112-Rs 3,276 per share for its Rs 20,000-crore follow-on public offering (FPO), that opens for subscription on January 27.

Shares of Adani Enterprises (AEL) hit an over two-month low of Rs 3,463.50, down 4 per cent on the BSE in Thursday’s intra-day trade after the company set a price band of Rs 3,112-Rs 3,276 per share for its Rs 20,000-crore follow-on public offering (FPO).

The stock of Adani Group flagship company was seen trading at its lowest level since November 1, 2022.

The floor price was set at a 13.4 per cent discount to the last close of Rs 3,595 on Wednesday, while the top-end is close