Adani Enterprises FPO fully subscribed

Adani Enterprises FPO

Adani Enterprises’ Follow-On Public Offer or FPO has been over-subscribed. At the time of writing this story, the subscription under the Qualified Institutional Buyers or QIBs category stood at 126 per cent, while the subscription for the Non Institutional Investors or NIIs quota was at 326 per cent.

As expected, retail participation in the FPO remained tepid, while the quota for employees saw a little over 50 per cent subscription. Remember, the Adani Group had ruled out changes to the date and the price of the FPO, despite the sell-off in Adani Enterprises shares after a report by the US based short-seller Hindenburg Research. Today, the stock closed almost 2.5 per cent higher, closing in the green for the second consecutive session.