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Adani Enterprises FPO: Big news related to the subsequent public offering of Adani Enterprises Limited (AEL) ie FPO is imminent. The Company has decided to terminate the fully subscribed FPO. In such a situation, the investors who invested money in the Adani Group FPO will be reimbursed soon. Explain that Adani Enterprises FPO was worth Rs 20,000 crore. It was considered the largest public follow-up offering of all time. In this Rs. 20,000 crore FPO, leading investors from around the world have placed bets. Funds have been invested in this FPO from Abu Dhabi’s investment company IHC (International Holding Company) to India’s veteran businessmen Sunil Mittal and Sajjan Jindal. The edition was open for placing bets from January 27th to 31st.
What did the company say?
In a statement, Adani Enterprises said: “The Board of Directors of the Company, at its meeting today, has decided to dissolve the FPO in the interests of its shareholders.” shall not be carried forward on a partially paid basis.’ Meanwhile, SEBI, the stock market regulator, is investigating the fall in Adani Group shares. A Reuters report indicated that SEBI is investigating all possible irregularities in the FPO, apart from the decline in shares of the Adani group companies.
Adani Enterprises shares fell 35%
Let us tell you that shares of Adani Enterprises are down almost 35% in intraday trading today. Adani Enterprises shares opened at Rs 3030 on BSE in early trading on Wednesday. Thereafter the stock fell to Rs 1942 in intraday trading. That is to say it was down about Rs 1008 or 35% from the daily high. However, at the time of the market close, the shares recovered slightly and the stock closed at Rs 2128.70, down 28.45% vs. BSE. With that, the market capitalization of Adani Enterprises has dropped to Rs.2,42,672.04.
Let us inform you that the American short selling company Hindenburg Research has accused the Adani Group of fraud in their report. Shares of the group companies have been steadily falling since this report was published and this report from Hindenburg came just ahead of Adani Enterprises on Jan 24 to bring Rs 20,000 crore FPO. However, the claims made in this report have been denied by the Adani group.
