Adani’s flagship company eyes $1.8 billion from share sale

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MUMBAI: Adani Enterprises, the flagship firm of Asia’s richest person, is considering issuing at least $1. 8 billion in new shares, according to people familiar with the matter.
Billionaire Gautam Adani’s conglomerate is working with advisers on the followon issue and could sell the shares as soon as next year, the people said, asking not to be identified as the information is private. The sale could even raise as much as $2. 4 billion, one of the people said.
The issue would diversify the shareholder base and build the firm’s credibility and acceptance among investors, the people said. More research firms are expected to cover the company in the next six months, one of the people said.
Shares in Adani Enterprises have risen about 136% in the year to date, giving it a market value of around $56. 3 billion, according to Bloomberg calculations. Analystshave highlighted how Adani…

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