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Ahead of the closing of its ₹20,000-crore Follow-on Public Offer (FPO) on Tuesday, Adani Enterprises Ltd shares traded with 3 per cent gains from Monday’s closing. AEL shares quoted at ₹2980.40 at 10.14 am, which is 4 per cent below the lower price band of the FPO at ₹3,112 per share.
Till Monday evening, the issue was subscribed up to 3.1 per cent, or 0.03 times, much below the expectations for the largest FPO in recent history.
Also read: Abu Dhabi’s IHC to infuse $400 million in Adani Enterprises’ FPO
In early trade on Tuesday, Adani Group’s other portfolio companies traded in a mixed trend. Adani Ports and Special Economic Zone (APSEZ), part of the Nifty 50 index, traded at ₹605.70, up 1.4 per cent from previous close.
Cement players ACC and Ambuja Cements traded firm with gains of 2.5 per cent and 4.7 per cent respectively.
Adani Transmission, which had lost heavily in the past sessions, traded with gains of 6.25 per cent at ₹1815.
All other Group companies remained under selling pressure.
Adani Total Gas (ATGL) lost 10 per cent to trade at ₹2108.2, Adani Power (APL) and Adani Wilmar (AWL) lost 5 per cent to trade at ₹223.80 and ₹466.45 respectively.
Also read: Adani issue likely to dominate the Budget session of Parliament; Opposition seeks debate
Adani Green Energy (AGEL) and NDTV traded with loss of 4.8 per cent and 3 per cent respectively.
The broader market remained under pressure with benchmark Nifty and Sensex trading in red down 0.26 per cent and 0.3 per cent.
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