A slew of global investors including Allianz, Goldman Sachs, Fidelity, Korea’s Mirae and Abu

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Dhabi Investment Corporation have bid for the Adani Power’s initial public offering (IPO), which was subscribed by 21.64 times.

Almost all the mutual funds including Reliance MF, DSP-BlackRock, Sundaram BNP, LIC Mutual Fund, Birla Sun Life and HDFC Mutual Fund are among the bidders for the IPO. Small wonder, the Qualified Institutional Buyers (QIB) portion was subscribed by about 40 times, post anchor investor allocation. Foreign institutional investors (FIIs) have bid for 312.723 crore shares while Indian institutions applied for 119.96 crore shares. Total shares on offer in this category are 12.33 crore shares.

According to investment bankers, some of the anchor investors such as T Rowe Price have placed bids in the IPO too.

“Most of the bids have come at the upper end of the band at Rs 100 per share,” said a banker.

Among the book running lead managers, Enam Securities emerged as the largest mobiliser. The local investment bank collected nearly 25 per cent of the subscription. DSP-Merrill Lynch, which was also the global co-ordinator of the issue, mobilised 18.43 per cent. JM Financial Consultants (16 per cent), IDFC-SSKI (13.5 per cent), Morgan Stanley (8.5 per cent), Kotak Mah-indra Capital Company (8.2 per cent), ICICI Securities (4.5 per cent), SBI Capital Markets (4 per cent) and UBS (1.77 per cent) were the other top mobilisers.

Retail portion was subscribed by nearly 3 times. This means, investors have put in about Rs 2,600 crore worth money in the Adani Power IPO. Retail investors are required to pay 100 per cent of the amount upfront. QIBs have to pay only 10 per cent of their bid amount as upfront.

“The success of the IPO showed that investors have realised that this is a good long-term investment story. The investments will be long-term accretive,” said Srinivasan Subramanian, head of investment banking at Enam Securities.

The shares will be listed on the stock exchanges on August 20, as per the plan, said a company official.