Adani
![Adani group logo](https://tdznkwjt9mxt6p1p8657.cleaver.live/wp-content/uploads/2023/01/Untitled-design-5-9-1200x678.png)
Adani Enterprises NSE -1.54% has collected Rs 5,985 crore by allocating shares to anchor investors in advance of its follow-on public offering (FPO). The flagship firm of the Adani Group has distributed 1,82,68,925 shares to more than 30 institutional investors at a price of Rs 3,276 per share, which is at the high end of the FPO price range of Rs 3,112-3,276 per share.
![Prior To The Fpo, Adani Ent Secures Rs 6,000 Crore From Anchor Investors. - Asiana Times](https://tdznkwjt9mxt6p1p8657.cleaver.live/wp-content/uploads/2023/01/image-580.png)
Investors of all kinds responded well to the anchor book. ADIA, Maybank Asia, Goldman Sachs, Nomura Financial, Societe Generale, Jupiter, BNP Paribas, Al Mehwar, Citigroup, and Morgan Stanley are a few of these.
Life insurance
Only life insurance firms from domestic investors took part in the anchor placement. Mutual funds avoided the subject.
9,15,748 shares, representing 5% of the total anchor part, were issued to LIC. The life insurance company now owns a 4.2% interest in Adani Enterprises.
An additional existing stakeholder, Nomura Singapore, received 1,95,364 shares, representing 1.07% of the total anchor component. As of December 31, the Japanese investment bank owned 1.08% of the company.
The pre-FPO placement also included participation from SBI Life Insurance and HDFC Life Insurance in addition to LIC. ADIA received 4,68,320 shares, or 2.6% of the anchor book, while the asset management company ELM Park Fund, located in Texas, received 10,35,108 shares, or 5.67% of the anchor book.