Global institutions and India’s largest mutual funds have shown strong support for various Adani Group companies, indicating a significant shift in investor confidence. Adani Group has notably attracted approximately Rs 40,000 crore in fresh equity investments over the past year, with substantial interest from both international and domestic investors across its listed entities.
Adani Enterprises Ltd (AEL) recently increased its qualified institutional placement (QIP) to Rs 15,000 crore, backed by bids totaling around Rs 38,000 crore, reflecting a robust 3.8 times oversubscription. This fundraising follows a successful Rs 25,000 crore rights issue within the last year, bringing the total equity capital raised by the company to about Rs 40,000 crore.
Leading global institutional investors such as Capital Group, Goldman Sachs, BlackRock, Blackstone, and Nomura, as well as prominent domestic players like HDFC Mutual Fund, ICICI Prudential Mutual Fund, and Kotak Mutual Fund, participated in the latest offering. The overwhelming demand for allocations was evident even before the issue formally opened, with the order book fully covered, prompting an increase in the base size from Rs 10,000 crore to Rs 15,000 crore.
Investor sentiment towards the Adani Group has notably shifted, with the group’s stocks transitioning from being less favored to highly sought-after by institutional investors globally and domestically. This positive trend is further evidenced by the strong participation in fundraisings and secondary transactions across various Adani companies, reflecting growing confidence in the group’s future growth prospects and investment opportunities.
The recent fundraising success also coincides with ongoing developments within Adani Enterprises, which is diversifying its portfolio across multiple sectors including airports, AI and data centers, renewable energy, infrastructure, and manufacturing. Notably, the company recently announced a significant $11.5 billion investment partnership with IHC to establish India’s largest aluminum manufacturing project, representing a substantial foreign direct investment in the country’s metals and mining sector.
