28 C
March 20, 2023

Investment companies from all over the world interested in Adani’s FPO, your chance from January 27

Investment companies from all over the world interested in Adani's FPO, your chance from January 27

Several giants are bidding to buy company stock in a $2.5 billion follow-on share (FPO) sale floated by Adani Enterprises, the flagship of Indian billionaire Gautam Adani. According to sources, Middle Eastern Inventors including Mubadala Investment Company PJSC and Abu Dhabi Investment Authority have bid for it.

Sources said the so-called anchor book for Adani Enterprises Ltd was oversubscribed 1.8-2 times. Many investment firms around the world have shown interest in this. Global companies’ commitments will be finalized on Wednesday. This FPO will be open for investment from January 27 to January 31 for small potential investors. Explain that this FPO is coming at a time when Hindenburg Research has alleged financial irregularities in Adani Group companies. After this, there is strong selling in Adani Group companies.

What is detail?

Abu Dhabi-based IHC, which last year invested nearly $2 billion in Adani’s companies. According to sources, wants to buy the largest share of about $ 200 million in this share sale. Others have placed bids ranging from $25 million to $50 million. Indian institutions including Life Insurance Corporation of India, SBI Life Insurance Company have also bid for the shares, the source said. However, the company has refused to say anything about this.

The share sale has been priced at a discount as Adani aims to attract Indian investors. The price of Adani Enterprises FPO has been fixed at Rs 3,112 to Rs 3,276 per equity share. Issue Price Explain that the Adani Group port-to-power conglomerate has presence in cement, media, airports and data centers, among other sectors.

Related posts

What’s Next For Bitcoin As Prices Encounter Difficulty Reclaiming $43,000?

Pooja Vaishnav

‘Hold my brew’ – Terra currently up $165M from purchasing Bitcoin as BTC stash approaches Tesla


Serve says India remains by online entertainment requests as Musk continues on Twitter


Leave a Comment