Adani Enterprises FPO Fully Subscribed! Will Adani Recover?
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The Adani Enterprises FPO was fully subscribed on its last day, which is 31 January, Tuesday. Amid all the ruckus and controversies going on between the Adani Group and Hindenburg Research, investors believed that Adani's FPO will fail terribly and we even saw how bad the FPO was performing till now. But surprisingly enough, the FPO of Adani Enterprises has been fully subscribed! Forget being fully subscribed, there were bids that even crossed the total number of follow-up shares issued by Adani Enterprises. The total number of shares issued was 4.55 crores, while the investors have placed bids for 4.62 crore shares. This data was given by the Bombay Stock Exchange, so it's bound to be correct. But how is it even possible?Â
Do you think Adani's shares will bounce back? Will Adani recover from all the losses incurred within these few days? We do not know anything as such right now. But it is really a surprise to see how the entire Adani Enterprises FPO which was almost dead, performed so well on the very last day of its issue. What do you think of it?Â
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Adani has finally bitten the dust.
From a distance, the Adani FPO looks shady. The FPO was priced at 3276 per share but at the same time, the same share was trading below 3000 for an entire week. Dont know why retail investors or institutions are investing in Adani via its FPO when they can buy it from the market at a lower price.
Liquidity crunch. 🙂
itna sab pata hota toh hum desidime pe deals nahi doondh rahe hote.Â