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 ModakAbhishek Kumar Mumbai
Photo: Bloomberg

Photo: Bloomberg

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.

Also Read

Adani FPO could be India's largest-ever; board to approve proposal on Fri

What is a follow-on public offer?

Adani Enterprises' Rs 20,000-crore FPO likely before Budget 2023

Rs 20,000-cr Adani Enterprises FPO opens on Jan 27: Should you subscribe?

AEL's strongest growth is ahead of us, says Gautam Adani on FPO

Four of top-10 firms add Rs 82,481 cr in mcap; HDFC Bank, Adani Total shine

Over 70% of PMS plans, investment vehicle for the wealthy, lagged in 2022

Sensex, Nifty fall for 2nd day on global economic slowdown concerns

Layoff season continues: Wipro fires 452 freshers on performance grounds

First Published: Jan 23 2023 | 6:10 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers. Already a BS Premium subscriber?LOGIN NOW

Register to