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breaking news Adani Enterprises Fpo fully subscribed, retail investors stay away

James2023-01-31
17 1 minute read
breaking news Adani Enterprises Fpo fully subscribed, retail investors stay away


The share reserved for non-institutional and institutional investors was fully subscribed at the start of the day. Almost all QIB demand comes from FIIs.

Adani Enterprises Rs 20,000 crore follow-up public offering (FPO) fully subscribed on the last day of subscription, from 3:10 p.m. The share reserved for non-institutional and institutional investors was fully subscribed at the start of the day. Almost all QIB demand comes from FIIs.

The 51% employee quota and the retail quota received offers of 11%.

On January 30, the second day of subscription to the FPO, the international holding company PJSC, based in Abu Dhabi, subscribed to 16% of the FPO of Adani Enterprises by investing a sum of 400 million dollars.

Of the Rs 20,000 crore proceeds from the FPO, Rs 10,869 crore will be used for green hydrogen projects, works at existing airports and the construction of a green highway. An amount of Rs 4,165 crore will be used for repayment of debt incurred by its airports, road and solar project subsidiaries.

In his interaction with CNBC-TV18, the company’s chief financial officer, Jugeshinder ‘Robbie’ Singh, expressed confidence that the show will not encounter any obstacles to full subscription, despite share prices falling well below the lower end of the price range.

Shares of Adani Enterprises were trading up 2.4% at last count. The stock lost almost 20% on Thursday and Friday, falling well below the lower end of the Rs 3,112 FPO price range. The stock started a recovery and ended slightly higher on Monday.

First post: January 31, 2023 12:25 p.m. STI


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James2023-01-31
17 1 minute read
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