[ad_1]
Gautam Adani News: The difficulties of the Adani Group are not taking the name of abating. After the Hindenburg report, the first FPO of 20 thousand crores was canceled and according to the latest update, the bond of 10 billion rupees ($ 122 million) has also been canceled. According to Bloomberg’s report, after heavy losses in the market, the company has decided to withdraw the bond.
Bloomberg reported in its December report that the flagship firm of Indian billionaire Gautam Adani planned to issue a public note in January, for which Edelweiss Financial Services Ltd., AK Capital, JM Financial and Trust Was working in association with Capital, now it has been cancelled.
Sharp decline in Adani Enterprises stock
The stock of Adani Enterprises, the flagship company of Gautam Adani, has fallen by more than 46 per cent in a week. Its stock had fallen by 35 percent on Friday itself. However, later the company recovered and it closed at Rs 1,531. There has also been a big decline in the Adani Group Matrket Cap. It was Rs 19.4 lakh crore on January 24, which had come down to Rs 9.4 lakh crore on Friday.
What did Hindenburg accuse
America’s short seller firm had accused the Adani Group and said that the Adani Group has a lot of debt. Along with this, the shares of most of the companies of Gautam Adani are 85 percent overvalued. After the arrival of this report, there was a big fall in the shares. After a huge fall in the shares of Adani Enterprises, its price had gone below the FPO price, in view of which Adani Group had withdrawn the FPO worth 20 thousand crores.
Gautam Adani out of top 20
Gautam Adani, who was once second and third in the list of the world’s richest people, is now out of the list of top 20 richest people. According to the Bloomberg Billionaire Index, Gautam Adani is at number 21 and his total assets are $ 59 billion. This year his wealth has declined by $61.6 billion.
read this also
[ad_2]
Source link