Adani Enterprises FPO Fully Subscribed On Last Day
Although market sentiment was dampened by a negative report fr
om New York short-seller Hindenburg
India's largest follow-on public offer (FPO) by Adani Enterprises was oversubscribed
on the final day
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
Non-institutional investors were 3.26 times oversubscribed, and qualified institutional buye
rs (QIB) were 126% oversubscribed
while demand from individual investors has been low so far at 11%.
The FPO was priced at Rs 3,112-3,276 per share
but Adani Enterprises NSE 2.80% shares ended the day up 3.35% at Rs 2,975.