Adani Energy's $1 Billion Share Sale Subscribed 6 Times With Rs 50,000 Crore Demand
NDTV
Adani Energy Solutions' stock gained over 15 per cent in intraday on Thursday before closing 11.24 per cent higher in Mumbai.
Billionaire Stanley Druckenmiller's family office-led investment firms have made their maiden bet on Adani group, seeking shares of the conglomerate's power transmission unit in an institutional sale that was oversubscribed six times and fetching demand of over Rs 50,000 crore against an issue size of USD 1 billion.
Duquesne Family Office and two other US-based long-only funds - Driehaus Capital Management and Jennison Associates - invested in the qualified institutional placement (QIP) of Adani Energy Solutions, sources with direct knowledge of the matter said.
The Rs 8,340 crore (USD 1 billion) issue saw over 120 investors seek shares in the firm that is into power transmission, distribution and smart metering business.
