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Discover The Details Adani Enterprises’ $500M QIP Was Oversubscribed By Fourfold!

Adani Enterprises' $500 million QIP saw demand over four times from investors like GQG Partners, closing on October 10 with finalisation expected by October 15 after a board meeting.
Discover The Details Adani Enterprises' $500M QIP Was Oversubscribed By Fourfold!

Adani Enterprises Ltd.’s $500 million qualified institutional placement (QIP) attracted over four times the demand from notable investors such as GQG Partners. The share sale to institutional investors closed the morning of October 10, with final processes set to conclude by October 15 after a board meeting.

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The company’s QIP was launched with a floor price of Rs 3,117.47 per share, representing a 6.08% discount from the closing price on the NSE at the launch day. This strategic pricing aimed to attract significant interest amid volatile market conditions.

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Notable participants in the QIP included Quant Mutual Fund, SBI Life Insurance, ICICI Prudential Life Insurance, SBI General Insurance, Whiteoak Capital Mutual Fund, and Tata Mutual Fund. The allocation of shares to these investors will be finalised and announced post the upcoming board meeting.

The issue was managed by SBI Capital Markets Ltd., Jefferies India Pvt., and ICICI Securities Ltd., with Cantor Fitzgerald & Co. also serving as an advisor. Their expertise was crucial in navigating the complexities of the large-scale placement.

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This substantial fundraising effort by Gautam Adani’s flagship company marks a successful turnaround, coming over a year after a previous attempt was shelved in 2023 due to adverse market reactions to a critical short-seller report. The successful closure of this QIP highlights renewed investor confidence in Adani Enterprises.

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फार्मा स्टॉक में उछाल, ₹177 करोड़ के ब्राउनफील्ड प्रोजेक्ट के लिए कैपेक्स की घोषणा की।

फार्मा स्टॉक ने झगड़िया में ₹177 करोड़ का अपग्रेड प्लान किया है, जिससे संचालन ऑटोमेट होगा और इलेक्ट्रोलाइट एडिटिव्स सुविधा