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Wipro 401.70↑7.60(1.93%)

Mutual funds, FPIs show appetite for a slice of Adani FPO anchor pie

Bankers see excess demand in Rs 6,000-cr anchor book

Samie Modak Abhishek Kumar Mumbai

Premium

Photo: Bloomberg

3 min read Last Updated : Jan 23 2023 | 6:10 AM IST

Large domestic mutual funds (MFs) and foreign portfolio investors (FPIs) are seeking allotment in the anchor category of the Rs 20,000-crore follow-on public offering (FPO) of Adani Enterprises (AELs). Investment bankers said they expect anchor demand to exceed supply of shares meant for anchor investors.

AEL’s FPO committee is expected to meet on Wednesday to finalise anchor allotment, where up to Rs 6,000-crore worth of shares can be allotted to qualified institutional buyers (QIB). AEL’s anchor book will be second-largest among domestic share sales after Patym.

Anchor allotment, made a day before an IPO or a FPO opens, provides cues to other investors looking to participate. A large diversified anchor book sends a positive signal to investors.