The ongoing follow-on public offering (FPO) of Adani Enterprises was subscribed only 3% by the end of day 2, data from BSE showed. Adani group’s CFO had however commented that they are confident of the Rs 20,000 crore FPO will sail through successfully.
As of day 2, the QIB portion remained unsubscribed, NII portion was subscribed 4%, Retail portion was subscribed 4% and the portion reserved for employees was subscribed 13%.
However, Abu Dhabi’s IHC in a statement announced that they have invested $400 million in the Adani Enterprises FPO, which is 16% of the overall issue size.
“Our interest in Adani Group is driven by our confidence and belief in the fundamentals of Adani Enterprises Ltd; we see a strong potential for growth from a long-term perspective and added value to our shareholders,” said Syed Basar Shueb, Chief Executive Officer, IHC in a statement