Adani Enterprises FPO: Anchor investor book oversubscribed, says report

New Delhi Adani Enterprises Ltd’s $2.45 billion secondary share offering was subscribed 1.5 times by anchor investors, with bids from high profile names such as the Abu Dhabi Investment Authority (ADIA), a source told Reuters on Wednesday.

Anchor investors bid for the share price 9,000 crore ($1.10 billion) in India’s largest follow-on public offering (FPO) They have been allocated Rs 6,000 crore, the source said.

Adani did not immediately respond to a Reuters request for comment.

The source said Maybank Asia, Citigroup Inc, Morgan Stanley and Life Insurance Corporation of India were among the bidders for the share sale.

ADIA, Maybank Asia, Citigroup, Morgan Stanley and LIC did not immediately respond to a Reuters request for comment.

A company spokesman said UAE Group International Holding Company was considering bidding in the share sale.

Adani Enterprises last week fixed the floor price for the FPO 3,112 per share, with a price cap 3,276 each.

Bidding for anchor investors began on Wednesday, while that for retail investors began on Friday and the offer for both sets of investors would close on January 31.

The demand for anchor investors comes as Hindenburg Research, a well-known US short-seller, said on Wednesday it has taken short positions in the Adani Group, accusing the group of improperly wide use of entities established in offshore tax havens. has been imposed and expressed concern about the high debt level.

Shares of Adani Group companies closed down 1.5% to 8.9% on Wednesday.

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