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Adani’s FPO was fully subscribed in Tuesday’s session at 3:10 pm. The quota of non-institutional investors and institutional investors in the FPO was already fully subscribed. The entire demand for qualified institutional buyers came from foreign institutional investors (FIIs). The FPO received 51 times the bid for the employee quota and 11 times for the retail quota. Adani Enterprises also closed higher today. The stock closed up 3.35 percent or Rs 96.50 at Rs 2,975 on BSE on Tuesday.
Worried about LIC, SBI investment in Adani Group? Find out the answers to your questions
Who invests how much?
Non-institutional investors’ FPO category above 10 lakhs was subscribed the most at 5.13 times. At the same time, only 0.02 per cent of the Rs 2 to 10 lakh quota was paid in NII. Bids received for 3.13 crore shares of NII Quota. Most of the contributions to this FPO came from the Family Office of UHNI. These include Ambani, Sajjan Jindal (JSW), Sunil Mittal (Airtel), Sudhir Mehta (Torrent) and Pankaj Patel (Zydus).
Hindenburg’s Charges
American short-seller Hindenburg released its research report just ahead of Adani Group’s Rs 200 billion FPO. Since then, the bearish session in Adani’s shares has still stalled. Adani Enterprises FPO per equity share Rs. 3 thousand 112 and Rs. 3,276 is offered at a premium price band and closes on January 31.
If you want to share… 4 lakhs in one month, save stock that makes you rich
Shares continue to fall
Adani group companies lost more than $65 billion in the stock market following a Hindenburg Research report on January 24, and shares of most of the group’s companies continued to fall in the early trading session on Tuesday. Shares of the conglomerate have been falling steadily since Hindenburg Research’s allegations, and continued to fall for the fourth consecutive session today. Meanwhile, the Adani Group has denied the allegations made by Hindenburg in the report.
A report stirs the market; First gave profit, now loss, investor’s headache increased
Talking about the performance of shares, shares of group companies fell for the fourth consecutive day on BSE. Shares of Adani Total Gas fell 10 percent in the early morning session, while Adani Green Energy 0.60 percent, Adani Transmission 8.62 percent, Adani Wilmar 5 percent, Adani Power 4.98 percent, NDTV 4.98 percent and Adani Ports 1.45 percent. fell But Adani Enterprises gained 5.26 percent, Ambuja Cements 5.25 percent and ACC 2.96 percent. Besides, Adani group-invested LIC fell 0.82 percent, while Punjab National Bank (PNB) gained 3.74 percent.
