[ad_1]
New Delhi: A big news has come out regarding Adani Group. Adani Group has canceled its FPO. Now Adani Group will return the money of the investors. According to the information received, Adani Group has canceled the FPO worth 20 thousand crores. Adani Group’s statement regarding cancellation of FPO has also come to the fore. Adani Group has said that this decision has been taken keeping in view the ups and downs of the market. This FPO of Adani Group was taken up by the people and it was oversubscribed. According to the company, this decision to withdraw the FPO has been taken keeping in view the interest of the investors.
Hindenburg’s report is not believed to have much effect on this decision as it did not raise many questions on the credibility of Adani Group. If the Hindenburg report had had an effect, it would have been difficult for the FPO to be oversubscribed. Questions are already being raised about the timing of the report, as the report was made public just a few days before the company’s FPO.
Gautam Adani gave this statement
Gautam Adani said, ‘Despite the ups and downs in the stock, I thank the investors for reposing faith in us. Our balance sheet is very strong and the company’s cash flow is very strong. This decision has been taken due to the ups and downs in the market. In such circumstances, it is not right to proceed with the investors. Will adopt a new strategy when the market improves.
read this also-
[ad_2]
Source link