Adani FPO fully subscribed after non-retail investors bid in big volumes

As many as 4.62 crore shares were sought as against an offer of 4.55 crore

Press Trust of India New Delhi
Photo: Bloomberg

Photo: Bloomberg

The Rs 20,000 crore share sale of Adani group's flagship firm was fully subscribed on Tuesday after non-retail investors bid in big volumes, according to stock exchange data.

As many as 4.62 crore shares were sought as against an offer of 4.55 crore.

Non-institutional investors put in bids for over three times the 96.16 lakh shares reserved for them, while the 1.28 crore shares reserved for qualified institutional buyers (QIBs) was almost fully subscribed, according to BSE data.

There was, however, muted response from retail investors and company employees.

Retail investors, for whom roughly half of the issue was reserved, bid for just 11 per cent of the 2.29 crore shares earmarked for them. Employees sought 52 per cent of the 1.6 lakh shares reserved for them.

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Jan 31 2023 | 3:44 PM IST

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