Adani group Chairman Gautam Adani on Friday said the Adani Enterprises’ (AEL) follow-on public offer (FPO) comes at a time when the firm’s ‘strongest growth’ in existing and new businesses is still ahead, and the FPO is targeted to create wealth for the retail shareholders.
In a video message, Adani said India is on its way to become a $30-trillion economy by 2050, and there could not be a better launch pad than India to expand the current portfolio.
Adani said his businesses are aligned with India’s ambitions of transitioning to ‘Bharat par Nirbhar’ (World dependent on India) from ‘Atmanirbhar Bharat’ (self-reliant).
He also said that tailwinds of large demographic advantage, fiscal responsibility, strong governance and position as a responsible power points to an era of growth and stability for India.
Therefore, the AEL follow-on offer is part of a 10-year capital planning cycle promoted by a fully funded and de-risked growth plan that is aligned with India’s growth story and aligned with the group’s capabilities, Adani said.
“Our intention with the FPO is to expand our share registry with specific focus on India’s retail investors,” Adani said.
He said the group is focussing on ESG (environment, sustainability and governance), and they are included in the Dow Jones Sustainability Emerging Markets Index.