Adani Enterprises FPO opens: Will Hindenburg report affect the bidding? 

Adani Enterprises FPO: The follow-on public offer (FPO) of Adani Enterprises is scheduled to hit primary markets  today and it will be available for bidding till January, 31. The Rs 20,000,000,000 follow-on public offering (FPO) of Adani Enterprises will be available for the investors to bid in the range of Rs 3,112–3,276 per share with a lot size of four equity shares until Tuesday, January 31.

Price band of the Adani Enterprises FPO

The price band of the Adani Enterprises FPO has been set up between at Rs 3,112 to Rs 3,276 per equity. Around today 10 am, the price of the share stood at Rs 3,279.25. The company has said that it will be spending the proceedings from FPO to meet capital expenditure requirements of some subsidiaries and debt. 

Meanwhile, Adani Enterprises has already raised nearly Rs 6,000 crore from anchor investors even before the opening of the FPO on Saturday. 

Adani Entreprises' shares to be affected by Hindenburg report?

Much-anticipated Adani Enterprises FPO has created a havoc across the gray market as investors hoard to bid. However, it remains to be seen in a negative report by US-based investment research firm will effect the shares of the Adani group. 

US-based Hindenburg Research released a report on January 24 in which it raised concerns about group’s mounting debt. Accusing the Adani Group of multiple irregularities, the research institute has said it would welcome 'legal stand' as they refused to change their stand after Adani Group's statement. Meanwhile, Adani Group companies continued to face panic selling as the investors continued to express worries about the report.

Also Read: Republic Day 2023: Shah Rukh Khan wishes fans in Pathaan style amid Blockbuster collections

Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER