Adani action decision..! Cancel FPO..? Decision to return money..?

Sowmiya Sriram
Adani action decision..! Cancel FPO..? Decision to return money..?
A famous short seller company in America, Hindenburg Company, has made a series of allegations against the adani Group. Amid these accusations by Hindenburg Company, adani Group shares continue to fall. In particular, this allegation of Hindenburg was made by adani Enterprises' rights issue. However, from the first day of the FPO to the last day, the stock continued to decline. Also, the stock continues to fall below this price limit set in the FPO. Hindenburg may have issued such a statement to influence the issue of equity shares in the adani Group. It was also accused of doing this to benefit from the decline of the adani Group. In the meantime, the FPO has been canceled considering the safety of investors and the market trend amid continuing falling stocks.
Through this, investors who have invested in adani Group will get their money back. It will also be safe for investors. Overall, adani Group has maintained its good reputation among investors by saying that it will give back money to those who were thought to have lost their money. This move comes as a boost to confidence in the adani Group. adani Group shares tumbled as much as 25% on Hindenburg's announcement. It seems that there is no recovery from this decline until now. Due to the study of Hindenburg company, the adani Group has been losing its market value continuously and has suffered a great setback in the list of world billionaires. However, what is noteworthy is that amid such confusion in the adani Group, the adani Group received an application for the entire FPO shares.
Amidst these problems, a new investment plan, even foreign companies have faith in the adani Group and announced a huge investment a few days ago. While this is seen as positive for adani Group, adani Group shares continue to decline. Meanwhile, adani Enterprises has announced the cancellation of a rights issue worth Rs 20,000 crore.
The adani Group has explained that the day-to-day volatility of their stocks is high. Considering this unusual situation, they have taken this decision in the interest of investors. So they have decided to return the investments received. The company is also taking action for that. It has also announced that this money will be returned to all in a few days.
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