Adani Enterprises FPO fully subscribed; Group survives Hindenburg attack with NII support

Despite a negative report by New York's short-seller Hindenburg spoiling market sentiments, India's largest follow-on public offer or FPO worth Rs 20,000 crore by Adani Enterprises was over-subscribed on the last day today with heavy support from non-institutional investors. Data from stock exchanges shows that out of the 4,55,06,791 fresh shares on offer under the FPO, bids were received for 4,63,42,780 shares or 102% so far by 3:15 pm.

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