Adani group’s FPO fully subscribed
There was a demand of 4.62 crore shares against an offer of 4.55 crore shares, according to the data.
- Among the most notable buyers is Abu Dhabi’s International Holding Co., which said Monday it will invest about $400 million. -----Media Reports
NEW DELHI- After the controversy over the Hindenburg Report, there is good news for the Adani Group. The FPO of Adani Group’s flagship company Adani Enterprises has received an overwhelming response on the last day and the FPO has been fully subscribed.
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The Rs 20,000-crore FPO received overwhelming response from non-retail investors on the last day of sale on Tuesday, according to stock market data. There was a demand of 4.62 crore shares against an offer of 4.55 crore shares, according to the data.
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Non-institutional investors (NIIs) placed bids for the shares more than three times against the 96.16 lakh shares reserved for them, according to BSE data. 1.28 crore shares reserved for Qualified Institutional Buyers (QIBs) were almost fully subscribed.
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However, retail investors and company employees were seen to be indifferent towards the FPO. Nearly half the issue was reserved for retail investors, while they bid for only 11 per cent of the 2.29 crore shares reserved for themselves. At the same time, bids came for 52 per cent of the 1.6 lakh shares reserved for employees. ( with agencies inputs ).
