Adani FPO: Who saved Adani Enterprises' FPO at the last moment? This company invested $400 million

Adani FPO: Last week, the report of Hindenburg Research, an American short selling company, made the shares of Adani Group companies upset. Meanwhile, the FPO (Follow on Public Offer) of Adani Enterprises, the leading company of the group, also came, for which uncertainty spread among the investors. 


Adani FPO: Who saved Adani Enterprises' FPO at the last moment? This company invested $400 million

The situation became such that speculation started whether the FPO would be subscribed till the last day or not. The subscription to the FPO was closing on Tuesday, but Abu Dhabi-based International Holding Company (IHC) invested $ 400 million in the follow-on public offering (FPO) of Adani Group's Adani Enterprises amid a fall in the group's shares. Is. IHC said in a statement on Monday that it has invested in this FPO through its subsidiary Green Transmission Investment Holding RSC Limited.


Adani Group's shares were shocked by the Hindenburg Report:


Hindenburg Research, an American financial research company, in one of its reports had accused Adani Group of fraud. After this, there has been a huge decline in the market capitalization of the group companies. This report of Hindenburg came just before Adani Enterprises brought FPO worth Rs 20,000 crore. 


Also ReadBloomberg Billionaires Index: Adani out of the list of world's top 10 billionaires


IHC Chief Executive Officer Syed Basar Shoaib said, “Our interest in the Adani Group is driven by our trust and confidence in the core principles of Adani Enterprises Limited. From a long-term perspective, we see strong potential for growth and greater value for our shareholders."


Adani Enterprises FPO: Fully subscribed FPO with the help of fellow industrialists


The Adani Enterprises FPO was fully subscribed till the market closed on Tuesday. According to stock market data, the Rs 20,000-crore FPO received support from investors, including family companies of some fellow industrialists and non-retail investors, on the last day of the issue on Tuesday. According to the data received from the stock market, against the offer of 4.55 crore shares made under the FPO, 4.62 crore shares were demanded from the investors.


Adani FPO Subscription: Who subscribed and how much?


According to BSE data, non-institutional investors placed bids for the shares for more than three times the 96.16 lakh shares reserved for them. Despite the offer price being higher than the company's share price, 5.08 crore shares were called for against the offer of 4.55 crore shares. 


The 1.28 crore shares reserved for qualified institutional buyers (QIBs) were almost fully subscribed. However, retail investors and employees of the company were apathetic towards the FPO. Nearly half the issue was reserved for retail investors, while they bid for only 11 per cent of the 2.29 crore shares reserved for them. Bids came for 52 per cent of the 1.6 lakh shares reserved for employees. 


Industry sources said that bids were also made for the shares on behalf of the families of some of the biggest industrialists of the country. However, the names of these investors could not be confirmed immediately. No information has been given about the investors from Adani Group as well.

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