Adani Enterprises’ follow-on public offer was fully subscribed on the last day of subscription, ie, Tuesday, January 31, 2023, with bidding still open. Qualified Institutional Buyers (QIBs) subscribed 0.97 times, Non-Institutional Investors(NIIS) subscribed 3.26 times, Retail Individual Investors (RIIs) subscribed 0.11 times, shares reserved for employees subscribed 0.52 times and in total out of 4,55,06,791 shares, 4,63,97,960 were subscribed. The FPO was subscribed 1.02 times.
Abu Dhabi based, International Holding Company (IHC), on Monday said it will invest $400 million (Rs 3,200 crore) in the Adani Enterprises’ Rs 20,000-crore follow-on public offer (FPO) through its subsidiary Green Transmission Investment Holding RSC. IHC has subscribed to 16% of Adani Enterprises’ $2.5 billion FPO. This is IHC’s first investment of the year, the conglomerate said.
On Tuesday, Adani Enterprises shares rose 3.35% to Rs 2,975.00 while other stocks of Adani Group were trading mixed. In the aftermath of Hindenburg’s report, three Adani Group stocks, Adani Total Gas, Adani Green Energy and Adani Transmission, have their circuit limit narrowed down from 20% to 10% after two continuous days of fall. The stocks have been falling since the Hindenburg accused the Adani group of fraud and money laundering.
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