'With the FPO, our assets will now be owned by Indians'
Business Standard|January 23, 2023
Adani Enterprises (AEL), the flagship company and business incubator of Adani Group, is set to launch its ₹20,000-crore follow-on public offer (FPO) on Friday. AEL will use the money raised to fund green hydrogen projects, airport facilities, and greenfield expressways, besides paring some of its debt. It will sell shares in a price band of 3,112-3,276 apiece in the FPO, slated to open on January 27 and close on January 31. Group Chief Financial Officer JUGESHINDER 'ROBBIE' SINGH, in conversation with Dev Chatterjee and Krishna Kant, talks about the need for more retail investors participating in India's growth story and the group's plans to invest $107 billion in the next decade in infrastructure and green energy projects. Edited excerpts:
'With the FPO, our assets will now be owned by Indians'

Equity investors, as a percentage of total population, are still low. Why do you think retail investors need to participate in the AEL issue? We are a home-grown company with diverse businesses. Investors can look forward to strong businesses emerging from our company in the future. We will unlock value in airports and data centres in the future. When you travel within India, you can see these assets for yourself. These are tangible assets like hydrogen, airports, and data centres.

With the FPO, these assets will now be owned by Indians. That is an important underlying message on wealth creation and from a national perspective that our core infrastructure will be owned by Indians.

The Indian household wealth is close to $15 trillion right now. All the equity investment combined represents less than 2 per cent of this. If they invest now, they will automatically get shares in Adani airports and in the data centre business in the future.

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