ADANI FPO PRICE
Were LIC and SBI instructed to invest in Adani Enterprises FPO despite stock crash? Congress asks govt
The Congress leader also asked if the family offices that were pressured to bail out the Adani FPO given assurances that this was only to save Gautam Adani's reputation and that the FPO would be subsequently cancelled and the money returned to the investors.
Will review capital markets strategy, says Gautam Adani
The shares have been on a freefall after an attack last week by short-seller Hindenburg, accusing the group of stock price manipulation. On Wednesday, a day after the successful closure of the FPO, AEL shares lost 28.2% in market value after reports emerged that global banking major Credit Suisse had stopped accepting Adani Group bonds as collateral. The company announced the decision to withdraw the FPO on Wednesday night.
Adani speaks for first time since turmoil as stock rout continues
Adani said the decision to withdraw the FPO will not have any impact on the group's existing operations and future plans. "We will continue to focus on timely execution and delivery of projects."
Adani Enterprises calls off FPO, money to be returned to investors
Citing the unprecedented crash in stock prices, Adani Enterprises Chairman Gautam Adani said the board felt that going ahead with the issue will not be morally correct, given these extraordinary circumstances
Adani Enterprises cancels FPO, to refund investors
"Given the unprecedented situation and the current market volatility the company aims to protect the interest of its investing community by returning the FPO proceeds and withdraws the completed transaction," the company told exchanges after a board meeting Wednesday evening.
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Gautam Adani explains why he was forced to withdraw Rs 20,000 crore-FPO
"For me, the interest of my investors is paramount and everything is secondary. Hence to insulate the investors from potential losses we have withdrawn the FPO," Adani said in a message to shareholders.
Adani Enterprises FPO fully subscribed on final day
The flagship entity of the Adani Group got bids for 50.9 million shares against an offer size of 45.5 million shares, excluding the anchor book, at a price range of ₹3,112-3,276 apiece. Adani Enterprises closed 2.8% higher at ₹2,973.90 Tuesday on the BSE, having dropped for two days in a row. The benchmark Sensex ended almost flat Tuesday.
Fully subscribed! Adani Enterprises FPO survives Hindenburg attack with NII support
Shares of billionaire Gautam Adani's flagship company Adani Enterprises were trading below the Rs 3,000 mark, while the FPO was priced at Rs 3,112-3,276 per share.
Abu Dhabi’s IHC to invest $400 million in Adani Enterprises FPO
IHC will make the investment through its subsidiary Green Transmission Investment Holding RSC Limited.
Adani Ent FPO subscribed 3% on Day 2, can the mega issue sail through?
The FPO was subscribed 3% on the Day 2, with the company receiving bids for 13,98,516 shares against the total issue size of 4,55,06,791 shares. Despite rebounding in trade on Monday after the massive sell-off last week, shares of Adani Enterprises are trading below the floor price of the FPO.
Adani Group loses 29% market value in 3 days as carnage continues
The massive sell-off in Adani Group stocks continued for the third consecutive session on Monday, wiping out nearly Rs 1.4 lakh crore worth of investors’ wealth. In all, about 29% of the group’s market capitalisation, or about Rs 5.6 lakh crore, has been eroded in the last three trading sessions.
Abu Dhabi-based IHC commits $400 million to Adani Enterprises FPO
Additionally, AEL is close to receiving further investment commitments of $1-1.1 billion (around ₹8,100-9,000 crore) from investors in Middle East and Southeast Asia with the announcement expected on Tuesday when the FPO closes, said a person directly aware of the matter.
Adani rejects Hindenburg allegations in notice to Investors
In a “notice to investors” in its follow-on public offer (FPO) on Saturday, Adani Enterprises (AEL) said it has “categorically denied all the allegations made in the report and considers the same to be misconceived and baseless.” The FPO will continue as per schedule without any changes in the price band, Adani Enterprises said separately on Saturday, quelling speculation about changes being made after a tepid investor reception on the first day of the issue.
Hindenburg Research Report fallout: FPO on track, no price band change, says Adani Group
The Rs 20,000-crore Adani Enterprises FPO, which opened on Friday, received bids for about 1% of the shares on offer, after allegations of governance lapses and price “manipulation” by US activist short-seller Hindenburg Research triggered panic selling in shares of the conglomerate’s companies. The issue runs January 27-31. “There is no change in either the schedule or the issue price,” said an Adani Group spokesperson on Saturday.
Adani Group rejects Hindenburg allegations in notice to investors
In a "notice to investors" in its follow-on public offer (FPO) on Saturday, Adani Enterprises (AEL) said it has "categorically denied all the allegations made in the report and considers the same to be misconceived and baseless."
Bankers on Adani $2.5 billion share sale consider delay, price cut after rout
Seven listed companies of the conglomerate controlled by one of the world's richest men, Gautam Adani, have lost a combined $48 billion in market value since Hindenburg Research on Tuesday flagged concerns about debt levels and the use of tax havens.
Adani Enterprises’ FPO gets a muted start
According to the offer documents, the company proposes to use '4,165 crore of the issue proceeds to repay the debt owed by the company and three subsidiaries - Adani Airport Holdings, Adani Road Transport and Mundra Solar.
Hindenburg impact: Adani Enterprises FPO subscribed just 1% on Day 1
The company received total bids of 4,70,160 shares against the issue size of 4,55,06,791 shares. The portion reserved for retail investors got bids for 3,99,880 shares against 2,29,08,464 shares on offer.
Adani Ent raises Rs 6K cr from anchor investors before FPO; MFs stay away
The Adani Group’s flagship company has allotted 1,82,68,925 shares to over 30 institutional investors at Rs 3,276 a share
Adani Enterprises FPO opens: Should you ignore Hindenburg report to subscribe?
Proxy advisor InGovern Research said the strategically timed release of the Hindenburg report on the eve of the FPO seems to indicate that there was some objective to scare investors.
Adani Enterprises FPO opens today: Analysts, brokers cite growth potential, some flag valuation
Adani Enterprises FPO: While those advising clients to bid in the FPO are bullish about the company's long-term prospects, analysts at several other brokerages said they do not track the company and refrained from making a recommendation. Some investment advisers, on condition of anonymity, said the current share valuation was elevated and so they were advising clients to skip the FPO.
Adani FPO open from Friday: Dates, price band, review, other details in 10 points
The basis of allotment of FPO would be finalised by 3 February and shares would be credited to successful applicants' demat accounts by 7 February. The new equity shares would be available for trading the next day on 8 February.
Coal part of India's base load energy: Adani Group
The role of coal was reiterated by Adani Enterprises, CFO, Jugeshinder Singh, when he was quizzed if use of coal for its power business could be a deterrent for international investors to invest in Adani Enterprises' follow-on public offer.
Adani Enterprises stock sheds nearly 4% on FPO news
The FPO will open for subscription on January 27 and close on January 31. The company will issue fresh shares on a partly-paid basis under a 100% book-built offer.
Adani FPO opens Jan 27 at Rs 3,112-3,276 per share
The company will offer partly paid shares to retail investors at a discount of ₹64 apiece to the issue price. Investors must pay 50% of the offer price at the time of placing bids in the FPO, and the remaining 50% on one or more subsequent calls, as decided by the board.
Adani Enterprises' Rs 20,000 crore FPO to open on January 27, price band announced
Under the FPO, the employee quota has been fixed at 5%, retail at 35%, non-institutional at 15%. Anchor investor bidding date for the FPO has been fixed on Jan 25.
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