Adani Enterprises FPO may get a big boost from Gulf sovereign wealth funds

Adani Enterprises will need to offer at least 35 per cent of the FPO, worth as much as Rs 7,000 crore, to retail investors

As Adani Enterprises gears up for its much-awaited follow-on public offer to raise up to Rs 20,000 crore, some of the biggest Adani group backers from the Gulf, including its strategic equity partner International Holding Company (IHC), are likely to be among the largest buyers of the FPO, according to The Economic Times.

The publication, citing people aware of the matter, reported that conglomerates such as IHC, and the public market desks of Abu Dhabi Investment Authority, ADQ, Qatar Investment Authority and Mubadala have been tapped for the FPO, which will be the largest such issuance in India to