INQ Holdings, SBI funds, Citigroup biggest buyers in Adani Energy's $1 billion QIP
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 $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 wholly-owned subsidiary of QIA, cornered 15 per cent of the shares sold.
Two Mauritius funds of Citigroup bought 8.88 per cent of the shares sold while four SBI funds — SBI Infrastructure Fund, SBI Large & Midcap Fund, SBI Long term Advantage Fund Series IV and SBI Magnum Children's Benefit Fund — together took home 7.93 per cent of the shares.
Nomura Singapore Ltd ODI cornered 7.5 per cent of the shares, the filing showed.
INQ had in August last year acquired nearly 2.7 per cent in Adani Green Energy Ltd — the renewable energy firm of the
