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%.
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.
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