Adani Enterprises FPO fully subscribed on day 3

The Rs 20,000 crore follow-on public offer (FPO) of Adani Enterprises ride through as the issue is fully subscribed on the final day. The Qualified Institutional Buyers (QIBs) subscribed 1.26 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, 5,00,66,620 were subscribed. The FPO was subscribed 1.10 times.

A day before subscription opened, the FPO has seen high demand from anchor investors and was oversubscribed around 2 times. Indian institutions including LIC and SBI Life also bid for the issue, the report suggested. 

The largest ever FPO, which sold at the price band of Rs 3,112–3,276 price band, opened for subscription on January 27, Friday. 

The basis of allotment of the FPO is likely by February 3, unblocking of funds is likely by February 4, credit of shares to demat account is likely by February 5 while the listing of the shares is likely by February 8.