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Adani Enterprises FPO Receives Bids For 3.63 Lakh Shares on Day 1
This FPO already has seen retail investors, high net-worth individuals (HNIs) and qualified institutional buyers (QIBs) putting in bids for the offer
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On the first day of bidding on Friday, the Follow-on Public Offering (FPO) by Adani Enterprises received bids for 3.63 lakh shares. This accounts to 1 percent of the issue size of 4.55 crore shares.
Considered to be the largest ever FPO in the history of Indian markets, this FPO already has seen retail investors, high net-worth individuals (HNIs) and qualified institutional buyers (QIBs) putting in bids for the offer.
The anchor book of nearly Rs 6,000 crore, a part of QIB book, was fully subscribed on January 25. Accordingly, the issue size was reduced to 4.55 crore shares, from 6.47 crore shares initially.
While retail investors have bought 1 percent and employees 4 percent of their allotted quota, HNIs (non-institutional investors) have bid for 27,504 shares against the reserved portion of 96.16 lakh shares, and QIBs have bought 2,656 shares of the 1.28 crore shares set aside for them.
The offer will close on January 31 and investors can bid for a minimum of four shares and in multiples of four shares thereafter.