The follow-on public offer (FPO) of Adani Enterprises has seen 20% subscription by 11:45 AM on Day 3 of the offer. The FPO opens for subscription on January 27 and will conclude on January 31. The offer is priced at Rs 3112-3276 per share. Investors can apply for 4 shares in a lot. Click here to apply in the FPO.
According to the information available on BSE website, against an offer of 4.55 crore shares of Adani Enterprises Ltd, only 92,74,688 were subscribed. Retail investors put in bids for 13,74,780 shares against 2.29 crore shares reserved for them while qualified institutional buyers (QIBs) sought just 62,28,576 shares against 1.28 crore reserved for them. Non-institutional investors sought 16,33,672 shares against an offer of 96.16 lakh shares.
The company has also raised around Rs 6000 crore from anchor investors on Wednesday. Abu Dhabi’s IHC is also investing in the company through FPO path bidding for almost 16% of the issue size.
Out of the ₹20,000-crore proceeds from the offer, ₹10,869 crore will be used for green hydrogen projects, work at the existing airports and construction of a greenfield expressway.
