Adani FPO fully subscribed thanks to institutional investors, while only 11% of retail portion received bids
Shortpedia
Content Team
Image Credit: FPJ
The Hindenburg report alleging fraud by the Adani Group hit the conglomerate at a crucial time when it was looking forward to raise Rs 20,000 crore from a follow-on public offer. With the offer set to close today, it has been subscribed 78 per cent so far on the third day. On the other hand Qualified Institutional Buyers subscribed to 100 per cent of the 12.8 million shares kept for them.
