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Adani Enterprises FPO Fully Subscribed On Last Day Of Bidding
The Adani Enterprises Follow-On Public Offering (FPO) had received bids for 46.27 million shares against an offer size of 45.5 million shares, reflecting a 102 percent subscription
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In the third and last day of bidding, the Adani Enterprises Follow-On Public Offering (FPO) had received bids for 46.27 million shares against an offer size of 45.5 million shares, reflecting a 102 percent subscription.
Only 11 per cent of the shares reserved for retail investors were bid on as a result of the stock price falling below the FPO price band.
The front-runners are qualified institutional buyers (QIB). Of the 12.8 million shares reserved for them, they have made an offer for 16.1 million of them. This means that the subscription was 1.26 times.
The amount reserved for non-institutional investors has been oversubscribed by 326 percent. Against a 9.6 million share reserve, they have offered to buy 31.3 million shares. Employees have bid on 52 per cent of the shares set aside for them in the meanwhile.