Adani Enterprises Ltd., the flagship firm of the Adani Group, has efficiently raised Rs 4,200 crore by its Certified Institutional Placement (QIP), which concluded on Tuesday, October 15. About 47 per cent of the full shares issued by the QIP went to Quant Mutual Fund, particularly by its numerous schemes. Inside this allocation, the biggest portion (17.4 per cent) has been assigned to the Quant Smallcap Fund.
The corporate allotted 1.41 crore fairness shares, with a face worth of Rs 1 every, to eligible institutional consumers.
The problem worth for the QIP was set at Rs 2,962 per share, reflecting a 5 per cent low cost from the ground worth of Rs 3,117.47 per share, in keeping with the corporate’s change submitting.
The low cost remained constant when in comparison with Tuesday’s closing worth of Rs 3,103 per share.
Submit-allotment, Adani Enterprises’ paid-up fairness share capital elevated from Rs 114 crore to Rs 115.42 crore, with the variety of fairness shares rising to 115 crore.
Quant Mutual Fund has repeatedly taken daring bets on Adani Group shares, together with in 2022.
In 2022, Quant Mutual Fund’s funding schemes capitalized on the surge in Adani Group’s inventory costs, making it the one fund home to take daring bets on the conglomerate.
In the meantime, till just lately, SEBI was investigating Quant Mutual Fund for suspected front-running, insider buying and selling, and misuse of energy.
On June 21, officers from the market regulator searched the fund home’s headquarters in Mumbai and associated areas in Hyderabad.
