Adani Enterprises calls off ₹20,000 crore FPO, to return money to investors
02-01-2023 : The Adani Group’s flagship company, Adani Enterprises, stated on Wednesday that it was withdrawing its 20,000 crore follow-on public offer (FPO), citing the current market conditions as the reason. The development followed today’s fast selling of the conglomerate’s shares as well as those of other group companies, barely one day after the FPO, the nation’s largest secondary share sale to date, was completed successfully.
“The Board of Adani Enterprises Ltd., (AEL) decided not to go-ahead with the fully subscribed Follow-on Public Offer (FPO),” the company said in a late-night BSE filing.
Adani Enterprises not to go ahead with FPO of shares worth Rs 20,000 crore, to return proceeds
Read @ANI Story | https://t.co/d9ibxBRJRf#GautamAdani #AdaniEnterprises #AdaniShares #AdaniGroup pic.twitter.com/FJyKIQp8jO
— ANI Digital (@ani_digital) February 1, 2023
BREAKING: Adani Enterprises pulls a record $2.4 billion share sale amid a selloff triggered by a US short seller report https://t.co/a0giOokI7v pic.twitter.com/K13bHpitmO
— Bloomberg (@business) February 1, 2023
#Breaking | Adani Ent says it won’t proceed with the #FPO #AdaniEnterprises pic.twitter.com/geDhN5Mo0i
— CNBC-TV18 (@CNBCTV18Live) February 1, 2023
