THE ongoing tussle between Adani Group and Hindenburg Research has dented the demand of Adani Enterprises' ₹20,000 crore follow-on public offer (FPO). On the second day, the FPO was subscribed just 3% with the company receiving bids for 13,98,516 shares against the total issue size of 4,55,06,791 shares, showed the stock exchange data.
However, the follow-on offer got a major boost as Abu Dhabi's largest listed company International Holding Company (IHC) said it would invest $ 400 million or ₹3,200 crore in the FPO.
The retail portion was subscribed just 4% as the company received bids for 9,76,944 shares from retail investors as against 2,29,08,464 shares reserved for them. High net-worth individuals bid for 9,76,944 shares against the portion of 96,16,323 shares reserved for them. The response from qualified institutional investors was also weak as the company received bids for just 4,576 shares as against 1,28,21,336 shares on offer.
This story is from the January 31, 2023 edition of The Morning Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 31, 2023 edition of The Morning Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Rahul gathering momentum ahead of WC
WITH the IPL being closely followed by the T20 World Cup in the USA and West Indies in June, the performance of Indian players in the ongoing league will decide the composition of the national team.
CSK look to get back to winning ways
CHENNAI Super Kings will bank on home advantage when they face Lucknow Super Giants (LSG) at the MA Chidambaram stadium here. Having lost their previous game to LSG at Lucknow, CSK will look to get back to their winning ways.
The minerals behind Gukesh's winning move
Lots of sleep, morning tennis and less intensive chess sessions are some of the routines that helped Indian Grandmaster re-write history at Toronto
DoT seeks SC clarification on spectrum allocation
IN a bid to avoid future legal challenges, the Department of Telecommunications (DOT) on Monday sought a clarification from the Supreme Court if it could allocate satellite spectrum to service providers without an auction.
Vodafone Idea's ₹18,000 crore FPO booked 6.56 times
IN a big relief to debt-laden Vodafone Idea Limited (VIL), its ₹18,000 crore follow-on public offer (FPO) was subscribed 6.56 times on the third and final day, with investor bidding for ₹8,011.8 crore equity shares.
RIL logs flat net profit at ₹21,243 cr
Annual earnings hit record high of over 21 lakh crore, driven by recovery in oil, pbetrochem biz
Significant human rights abuses in Manipur after ethnic clash: US State Dept
THERE were significant human rights abuses in Manipur after the outbreak of ethnic conflict, the US State Department said on Monday in its Country Reports on Human Rights Practices.
First UK deportation flight to Rwanda will leave in 12 weeks
UK Prime Minister Rishi Sunak pledged Monday that the first deportation flights carrying migrants who enter the country illegally to Rwanda would leave in 10-12 weeks, as he vowed to end the Parliamentary deadlock over a key policy promise before an election expected later this year.
Finally, first resignation in Israel over intel failure of Hamas' attack
Jewish leaders harshly criticise US move to sanction ultra-orthodox soldiers’ unit in IDF
3 turncoats, an outsider battle it out at ‘NRI heartland' of Jalandhar
FORMER Punjab Congress chief Mohinder Singh Kaypee on Monday ditched the party and entered the Lok Sabha fray from Jalandhar on SAD ticket, taking the number of turncoats in the NRI heartland to three.