gautam adani, Adani group’s reply after Hindenburg report, said- there will be no change in FPO – adani group said no change in schedule, issue price of fpo

New Delhi: The difficulty of the Adani group has increased since the arrival of the report of the American research firm Hindenburg Research. Due to the Hindenburg report, there has been a big decline in the wealth of Gautam Adani. There is a tremendous decline in their shares. Due to this report Adani’s follow up public operating has suffered a setback. However, the Adani group has made a big statement regarding this $ 2.5 billion follow-up public offering (Adani FPO) of the company. It has said that there will be no change in the closing date of the FPO in the fixed prices.

Billionaire businessman Gautam Adani-led conglomerate on Saturday ruled out any change in the prices or sale dates set under its follow-on public offering (FPO). After the report of American financial research company Hindenburg Research came out, there has been a big decline in the shares of all the group companies including Adani Enterprises.

A group spokesperson said the FPO of Adani Enterprises Ltd is progressing on schedule and at the announced price range. There is no change in the issue price schedule. The spokesperson said that all our stakeholders including bankers and investors have full faith in the FPO. We are very confident of the success of the FPO. The Adani group said the Hindenburg report was malicious and bogus and was brought out with an intention to sabotage its FPO.

The FPO of Adani Group’s flagship company Adani Enterprises received only one per cent subscription on the first day of application on Friday. This FPO will close on 31 January. As per the information available on the stock exchange BSE, Adani Enterprises Ltd. On the first day of the FPO, only 4.7 lakh shares were bid against 4.55 crore shares.

The company has kept a price band of Rs 3,112 to Rs 3,276 per share for the FPO. However, its stock closed at Rs 2,762.15 on the BSE on Friday. Retail investors applied for four lakh shares while 2.29 crore shares are reserved for them. Whereas in the category of eligible institutional buyers, bids were received for only 2,656 shares against 1.28 crore shares. Non-institutional investors bid for 60,456 shares against the offer of 96.16 lakh shares.

Prior to the opening of the FPO, Adani Enterprises raised Rs 5,985 crore from anchor investors. A report by Hindenburg Research has accused the Adani group of indulging in ‘blatant stock manipulation and accounting fraud’. After this report, there has been a big fall in the shares of Adani Group’s listed companies related to diversified business.