Quant MF invests Rs 2,000 cr in Adani Enterprises QIP

Quant Mutual Fund has invested around Rs 2,000 crore in the Adani Enterprises Qualified Institutions Placement (QIP). The QIP committee has approved the total issue size aggregating to approximately Rs 4,200 crore, under the issue by provisions of SEBI ICDR Regulations. As a percentage of total issue size, Quant Mutual Fund has invested nearly 47% in the QIP.

Among the list of participants, a major stake was held by Quant Mutual Fund. Five schemes were from Quant Mutual Fund. Quant Small Cap Fund got the highest stake where around 24.68 lakh shares were allotted which is nearly 17.40% of the total issue size.

Three schemes of Quant Mutual Fund had around 7% stake in the Adani Enterprise QIP. Quant ELSS Tax Saver Fund, Quant Active Fund, and Quant Flexi Cap Fund had around 7.14% stake in the Adani Enterprise issue. Three schemes - Quant Focused Fund, Quant Quantamental Fund, and Quant Momentum Fund - had a 1.19% stake in the said QIP.

At 1 PM, the shares of Adani Enterprise went down by nearly 1.4% to day’s low of Rs 3,061 on BSE. In the last two years, the shares of Adani Enterprises went down by 4.19%. In the last five and 10 years, the shares surged by 1,818% and 5,225% respectively.

The other participants in the QIP were Winro Commercial (India) which had a stake of 12.50% of the total issue size. Tree Line Asia Master Fund (Singapore) Pte and SBI Life Insurance Company had 5.94% and 5.05% stake of the total issue size in the Adani Enterprise QIP.

The QIP committee in its meeting held on October 15 approved the allotment of 1,41,79,608 Equity Shares of face value Re 1 each to eligible qualified institutional buyers at the Issue price of Rs 2,962 per Equity Share (including a premium of Rs 2,961 per Equity Share) and reflecting a discount of Rs 155.4750 (i.e. 4.99%) on the floor price of Rs 3,117.4750 per Equity Share.

The issue opened on October 9 and will close on October 15.

Pursuant to the allotment of Equity Shares in the issue, the paid-up equity share capital of the Company stands increased from Rs 114.00 crore, comprising of 1,14,00,01,121 Equity Shares to Rs 115.42 crore, comprising of 1,15,41,80,729 Equity Shares.