IHC throws ₹3,200-cr lifeline to Adani FPO
Business Standard|January 31, 2023
ADANI ENTERPRISES FOLLOW-ON OFFER SUBSCRIBED 3% AT THE END OF DAY TWO
SAMIE MODAK
IHC throws ₹3,200-cr lifeline to Adani FPO

The follow-on public offering (FPO) of Adani Enterprises (AEL) was subscribed only 3 per cent on Monday. The issue, which closes on Tuesday, will require bids of more than ₹13,000 crore to garner the full subscription.

The Gautam Adani flagship firm, however, will be buoyed by Abu Dhabi-based International Holding Company’s (IHC’s) decision to invest $400 million (₹3,260.8 crore at the current exchange rate of ₹81.52 to the US dollar) in the share sale. The investment — about 16 per cent of the issue size — will be made on the final day.

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