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.
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.
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.