Healthy Appetite: Adani Enterprises QIP gets nearly 4x bids

Adani Enterprises' ₹15,000 crore QIP received bids worth around ₹38,000 crore, translating into nearly four times subscription. The issue was upsized from the initial ₹10,000 crore base after strong demand from global investors including Capital Group, Goldman Sachs, BlackRock, Blackstone, and Nomura, along with domestic mutual funds such as HDFC MF, ICICI Prudential MF, and SBI MF. The indicative issue price was fixed at ₹2,883 per share, a 5% discount to the Sebi floor price, resulting in about 2.6% equity dilution, with proceeds earmarked for capex on incubation businesses, debt repayment, and potential acquisitions.