Breaking News
1. Middle class 'rapidly eroding' as poverty soars in Myanmar: UN      2. Biden says US ready to defend Philippines from 'any attack' in South China Sea      3. China coast guard patrols waters of Diaoyu Islands      4. China state planner finalises rule to set up coal production reserve system      5. Former China Everbright Group chairman charged with taking bribes, state media reports      6. US military says destroyed missile launched from Houthi-controlled areas of Yemen      7. CBI creates dedicated e-mail id for land grab victims in Bengal's Sandeshkhali      8. Day after HC order, CBI creates email ID for Sandeshkhali victims in Bengal      9. OJ Simpson dead: Former actor and football star passes away following prolonged battle with cancer      10. Indira Gandhi assassin's son Sarabjit Singh to contest in LS polls from Punjab's Faridkot      11. Rahul Gandhi goes through manifesto feedback, calls up people from car      12. Who is an approver, and what does the century-old law protecting approvers say?      13. Modi government’s attempt to explore gas and oil in biodiversity-rich Wadge Bank roils the Kanniyakumari LS election      14. In Gaya, Manjhi faces son of man who trounced him in 1991      15. ‘Sound and stable ties’: China responds to PM Modi's comments on ‘prolonged’ border row      16. Two Philippine navy pilots killed in helicopter crash      17. South Korea's PM Han Duck-soo offers to resign after poll defeat      18. BJP's News List Drops Kirron Kher; Ahluwalia Faces Shatrughan In Asansol      19. PM Modi bats for peaceful ties with Pakistan, China: ‘We need to urgently…’      20. Swiggy offers 20% discount to High Net Worth Individuals in pre-IPO deal: Report     

Adani Enterprises Withdraw FPO worth 20,000 Crores

  • Posted on February 2, 2023
  • News
  • By Akta Yadav
Adani Enterprises:- credit:-Adani Group Adani Enterprises has cancelled the FPO of equity shares up to Rs 20,000 crore. Along with this, Adani has decided to return the money of the investors. The board of directors of the company took this decision on Tuesday. The face value of the equity shares on a partly paid-up basis is Re 1. This FPO was fully subscribed. Adani Enterprises Adani Enterprises-Adani Enterprises   At the same time, after cancelling it, Adani has given his response. Adani said that I am fortunate to have received overwhelming support from all stakeholders. I must admit that whatever I have achieved in life is because of the trust of the investors. I attribute all my success to those investors. For me, the interest of my investors is paramount and everything else is secondary. Therefore, to protect investors from possible losses, we have called off the FPO. Earlier, in the information given to the stock exchange, the company said that the board of directors of the company in its meeting held on February 1, 2023, has decided to buy back these shares. The company said, "Adani Enterprises has decided in its board meeting held on February 1, that we will not go ahead with the FPO.  Considering the current position of the company and recent market volatility, in the interest of customers, we will not go ahead with the FPO." It has been decided not to escalate and to completely discontinue the transaction." The Board said that we thank the investors for participating in the FPO. The membership of the FPO was closed on January 31. We thank you for your trust in our business and our management, despite the volatility in the stock, the company said. Although the market has been good today. Our stock price fluctuates throughout the day. In view of such extraordinary circumstances, the Board of the Company felt that it would not be ethical to go ahead with this FPO at this stage. The interest of our investors comes first. The company said – good record of repaying the loan The company said that in order to avoid any financial loss in future, the board has decided not to go ahead with this FPO. We are working with our Book Running Lead Managers (BRLMs) to issue refunds to people. Our balance sheet is very strong right now. Our cash flow and assets are secure. Also, we have a good debt servicing record. Adani Enterprises Adani Enterprises-Adani Enterprises The company said that our decision will not affect our current operations and our future plans. We will continue to focus on long-term value creation and our growth will be driven by internal growth. We are sure that we will continue to get your support. Shares fall after Hindenburg report Let me tell you, a report came from the American research firm Hindenburg. The report accused the Adani Group of being involved in stock manipulation, money laundering and accounting fraud. After this, there was a huge decline in the shares of Adani Group. 
No Image
Akta Yadav

You May Also Like