FPO of Adani Enterprises Fully Subscribed on Final Day

The ₹20,000 crore FPO (Follow-on Public Offering) of Adani Enterprises Ltd was fully subscribed on the final day of the offer Tuesday, January 31.

FPO of Adani Enterprises was subscribed 1.12 times on Final Day.

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Corporates and foreign investors showed good interest in FPO.

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Domestic institutions, including mutual funds, and most retail investors stayed away from the FPO as the issue price was above the Adani Enterprises stock price.

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The price range of Adani Enterprises FPO was Rs3112 - Rs3276.

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The closing price of Adani Enterprise was 2,973.90 on January 31, 2023.

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US short seller Hindenburg Research released its report on Adani group just before the FPO date.

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