Adani Enterprises, the flagship company of the Adani Group, has launched a ₹20,000 crore follow-on public offer (FPO).
India's largest FPO worth Rs 20,000 crore by Adani Enterprises was over-subscribed on the last day today, as per media reports.
Cyril Amarchand Mangaldas acted for Adani Enterprises with a team led by Managing Partner Cyril Shroff along with Partners Yash Ashar and Devaki Mankad.
Trilegal and Latham & Watkins acted for the bankers.
Right before the launch of the FPO, the Adani Group found itself in the eye of a storm after US-based investment research firm Hindenburg Research released a report alleging fraud on the part of the conglomerate, as a result of which its stocks suffered losses to the tune ₹65 billion.
Adani released a response to the allegations on January 29, claiming that the report was a "malicious combination of selective misinformation and concealed facts to drive an ulterior motive".