Adani Power IPO subscribed 7 times

The initial public offer (Ipo) of Adani Power today got subscribed nearly seven times on the third day of the offer today with most of the bids coming in from institutional investors.

The Adani Power issue, the second-biggest public offer after that of Reliance Power in 2008, attracted good investor response and received bids for over 1706.9 million shares against 248.7 million shares on offer, achieving a demand for 6.86 times the shares on offer.