Adani Enterprises Ltd' $2.45 billion secondary share offering was subscribed 1.5 times by anchor investors, with bids from high profile names such as Abu Dhabi Investment Authority (ADIA), a source told Reuters on Wednesday.
ADIA, Maybank Asia, Citigroup, Morgan Stanley and LIC did not immediately respond to Reuters' request for comment.was considering bidding in the share sale, the company's spokesman said.
Adani Enterprises, last week, set the floor price for the FPO at 3,112 rupees per share, with a price cap of 3,276 rupees apiece. While bidding for anchor investors began on Wednesday, bidding for retail investors will start on Friday, with the offer closing for both sets of investors on Jan. 31. The demand from anchor investors comes as a Hindenburg Research, a well known U.S. short-seller, said on Wednesday it
in Adani Group, accusing the conglomerate of improper extensive use of entities set up in offshore tax havens and expressing concern about high debt levels.Reporting by Adiya Kalra in New Delhi, Nandan Mandayam in Bengaluru; Editing by Dhanya Ann Thoppil and Savio D'Souza
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