Rs 20,000-cr Adani Enterprises FPO opens on Jan 27: Should you subscribe?

Shares of Adani Enterprises have soared 78.41 per cent so far this fiscal year (FY23), as against 4.2 per cent rise in the S&P BSE Sensex

Adani Enterprises' Rs 20,000-crore follow-on public offering (FPO) sent shares southwards in Thursday's intra-day trade, as they slumped over 4 per cent and hit a two-month low at Rs 3,446 per share. Analysts, however, suggest subscribing to the offer and re-iterated bullish tone on the counter, given the conglomerate's large play on renewable energy.

"The FPO will be a good buying opportunity for investors as money is allocated towards renewable, road assets, and other infrastructure assets including airports. Since renewable energy is the next growth trigger for the domestic economy, any company which focuses heavily on this form of