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Adani Enterprises FPO subscribed 36% on Day 3 – Moneycontrol

Abu Dhabi’s IHC, one of the anchor investors, poured in another $400 million in the FPO

The Adani Group company plans to raise Rs 20,000 crore via the FPO, the largest ever FPO in the Indian capital markets history. (Representative image)

The Follow-On Public Offering (FPO) of Adani Enterprises had got bids for 18.3 million shares against an offer size of 45.5 million shares, representing a 40 percent subscription, in the afternoon of January 31, the third and final day of bidding.

This excludes the anchor portion that was fully subscribed.

Retail investors have taken a backseat as the stock price slid below the FPO price band, bidding for only 8 percent of the shares set aside for them.

Qualified institutional buyers (QIB) are at the forefront. They have bid for 8.67 million shares of the 12.8 million shares set aside for them. This indicates 68 percent subscription.