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.
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.
Subscribe To Insights
Key stories on business-standard.com are available to premium subscribers only.Already a BS Premium subscriber? Log in NOW
What you get on Business Standard Premium?
- Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
- Pick your 5 favourite companies, get a daily email with all news updates on them.
- Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
- Preferential invites to Business Standard events.
- Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.