The quota reserved for non-institutional and institutional investors was subscribed fully earlier in the day. Almost the entire QIB demand has come from FIIs.
Adani Enterprises Rs 20,000 crore follow-on public offer (FPO) fully subscribed on the final day of the subscription, as of 3:10 pm. The quota reserved for non-institutional and institutional investors was subscribed fully earlier in the day. Almost the entire QIB demand has come from FIIs.
According to sources privy to the developments told CNBC-TV18 that family offices of some Indian conglomerates said to have participated in the Adani FPO. CNBC-TV18 is waiting for the responses from various family offices of large companies on participation in the FPO.
The HNI portion of the Adani FPO was subscribed 3.31x. The employee quota 51 percent and the retail quota has received 11 percent bids.
Out of the Rs 20,000-crore proceeds from the FPO, Rs 10,869 crore will be used for green hydrogen projects, work at the existing airports and construction of a greenfield expressway. An amount of Rs 4,165 crore will be utilised for repayment of debt taken by its airports, road and solar project subsidiaries.
Shares of Adani Enterprises were trading 2.4 percent higher on the last count. The stock lost nearly 20 percent over Thursday and Friday, falling well below the lower end of the FPO price band of Rs 3,112. The stock staged recovery, and ended slightly higher on Monday.
First Published: Jan 31, 2023 12:25 PM IST