(Reuters) – India’s Adani Enterprises said on Wednesday it launched a share sale to institutional investors.
The floor price of the fundraise, through a so-called Qualified Institutional Placement (QIP), is 3,117.475 rupees per share, a 1.2% discount to Wednesday’s closing price.
The flagship firm of billionaire Gautam Adani’s Adani Group had approved the raising of up to 166 billion rupees ($1.98 billion) in May.
($1 = 83.9310 Indian rupees)
(Reporting by Varun Hebbalalu in Bengaluru; Editing by Vijay Kishore)
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