Adani Enterprises FPO Fully Subscribed On Last Day

Although market sentiment was dampened by a negative report from New York short-seller Hindenburg

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India's largest follow-on public offer (FPO) by Adani Enterprises was oversubscribed on the final day

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By 3:45 p.m., bids had been received for 5,01,12,652 shares (or 11%) of the 4,55,06,791 new shares offered under the FPO

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Non-institutional investors were 3.26 times oversubscribed, and qualified institutional buyers (QIB) were 126% oversubscribed

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while demand from individual investors has been low so far at 11%.

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The FPO was priced at Rs 3,112-3,276 per share

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but Adani Enterprises NSE 2.80% shares ended the day up 3.35% at Rs 2,975.

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