INQ Holdings, SBI funds, Citigroup big buyers in Adani Energy's $1 bn QIP
A unit of Qatar Investment Authority, SBI Mutual Fund, and foreign investment funds Nomura and Citigroup were the biggest buyers of shares in Adani group's power transmission unit's USD 1 billion QIP, according to a stock exchange filing by the company.
The Rs 8,373.10 crore (USD 1 billion) qualified institutional placement (QIP) of Adani Energy Solutions Ltd (AESL), which closed last week, saw over 120 investors seek shares in the firm that is into power transmission, distribution and smart metering business.
Billionaire Stanley Druckenmiller's family office-led investment firms were among the companies that sought shares of AESL in the QIP.
AESL in the filing said its board has approved allocation of over 8.57 crore shares to eligible qualified institutional buyers at the issue price of Rs 976 per share, reflecting a discount of Rs 51.11 (4.98 per cent) to the floor price of Rs 1,027.
Giving details of allottees who got more than 5 per cent of shares, it said INQ Holdings LLC, a