Adani Group's big decision: cancelled FPO worth 20 thousand crores, will now return money to investors
Adani Enterprises has said that they are cancelling the FPO. At the same time, there has also been talking about returning the money to the investors. It is noteworthy that on January 27, Gautam Adani's company Adani Enterprises issued FPO to raise 20 thousand crores.
Muskan 
Adani Enterprises calls off FPO: Last week, a report by Hindenburg made the shares of Adani Group companies in trouble. Which, in the meantime, Adani Enterprises Limited (AEL), the leading company of the group, was about to bring a follow-on public offer ie FPO. But now a big update has come regarding this. On Wednesday, the company cancelled the fully subscribed FPO. In such a situation, the investors who had invested money in the FPO of Adani Group will be refunded soon.
Adani Enterprises has said that they are cancelling the FPO. At the same time, there has also been talked of returning the money to the investors. Adani Enterprises has given this information by issuing a press release. In it has been said that he is withdrawing his FPO worth 20 thousand crores. The money will be returned to the investors soon. Let us tell you that on January 27, Gautam Adani's company Adani Enterprises issued FPO to raise 20 thousand crores.
Meanwhile, SEBI, the stock market regulating body, is probing the fall in Adani Group's shares. A Reuters report suggested that Sebi is probing any possible irregularities in the FPO, apart from the fall in shares of Adani group companies. However, the spokespersons of Adani Group and SEBI are yet to respond in this matter.
Follow-on Public Offer (FPO) is a way for a company to raise money. The company which is already listed in the stock market offers new shares to investors. These shares are different from the shares present in the market.
