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    Vikshita Vitthal Gujaran in Stock Market Update

    28-Jan-2023 09:49 AM


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    Adani Enterprises FPO: What GMP signals after share price crash

    Adani Enterprises FPO: Amid bloodbath on Dalal Street and Hindenburg Research report raising concern over debt positions of Adani group companies, the follow-on public offer (FPO) of Adani Enterprises Ltd opened for subscription on Friday.
    According to primary market observers, Adani Enterprises FPO grey market premium (GMP) today is zero, even though Adani Enterprises share price today is ₹2,768.50 apiece on NSE, more than 15 per cent lower from Adani Enterprises FPO upper price band of ₹3,276 per equity share.
    They said that chances ofrevival in grey market mood now depends on two developments only — either Adani Enterprises share price rebounds on Monday or Adani Enterprises management lowers its FPO price.

    If there is bounce back in Adani Enterprises share price on Monday, then in that case the follow-on issue may attract investors otherwise even decreasing the FPO price won't be a handy instrument for the company promoters," said Avinash Gorakshkar, Head of Research at Profitmart.

    Source - Mint