Adani Ent FPO subscribed 3% on Day 2, can the mega issue sail through?

The Rs 20,000-crore secondary share sale of shares by Adani Enterprises NSE 2.87 % is struggling even as the stock managed to recoup partial losses.

The FPO was subscribed 3% on the Day 2, with the company receiving bids for 13,98,516 shares against the total issue size of 4,55,06,791 shares. Despite rebounding in trade on Monday after the massive sell-off last week, shares of Adani Enterprises are trading below the floor price of the FPO.