Adani IPO breaks all records
In a record breaking performance, Mundra Port and SEZ Ltd (MPSEZ) created new benchmarks in the Indian capital market by mobilising a staggering amount of Rs 2,07,207 crore in its initial public offer (IPO), which was oversubscribed by 116 times.
When the offer closed on Wednesday, the investing community was left gaping at this stellar performance by an Ahmedabad-based company, as MPSEZ outstripped several high profile IPOs of big-time players like Power Grid Corporation, Reliance Petroleum, ICICI, Power Finance, TCS and DLF.
The MPSEZ IPO has been oversubscribed 159 times by qualified institutional bidders (QIBs), 156 times by high networth individuals (HNIs) and 14 times by retail investors. Going by weightage, the over-subscription stood at 116 times.
The MPSEZ, promoted by Gautam Adani-led Adani Group, began its journey 13 years ago to set up a captive port facility. The IPO received over 12 lakh applications.
The company had entered the capital markets on November 1 for an equity share of Rs 10 each at a price band of Rs 400-440 to mobilise Rs 1,717 crore for expanding its port and SEZ related infrastructure at Mundra.
- TOI, Ahmedabad
Nov 8, '07
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