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Adani Group FPO: The country’s central bank (Reserve Bank of India) has sought a report from the local banks of India regarding Adani Group companies. According to a Reuters report, the RBI has sought information about Adani group companies’ exposure to government and banking sources. This information has been given in the report by quoting sources.
Explain that the group of the country’s billionaire Gautam Adani has withdrawn the fully subscribed follow-on public offer (FPO). After the withdrawal of FPO by Adani Group, there has been a big fall in the shares of Adani Group Companies on Thursday. Shares of Adani Enterprises were trading at Rs 1,953.10 per scrip, down 8.53 per cent on Thursday.
Why did Adani Group withdraw the FPO?
Adani Group said on Thursday that in view of the current market volatility and the company’s condition, it has been decided to close the FPO. The company said that the money invested in the FPO will be returned. This decision of the company is to protect the interests of the investment community.
what did gautam adani say
Addressing the investors, Gaut Adani, Chairman of Adani Group, has said that it is not ethically correct to proceed with the FPO of Rs 20,000 crore in the current market situation. For me, the interest of my investors is paramount. In such a situation, in the interest of the investors, to save them from loss, we have withdrawn the FPO.
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