Adani Enterprises has cancelled its Rs 20,000 crore follow-on public offer (FPO), the company said in a regulatory filing late on Wednesday (February 1) evening. The company will refund proceeds it had received as part of its FPO, which was bailed out largely by corporates and foreign investors on Tuesday.
The development has come amid a massive market rout in Adani Group stocks following the release of the Hindenburg Research report that accused the group of “brazen stock manipulation and accounting fraud”.
In an exclusive conversation with CNBC-TV18, JN Gupta, Former Executive Director, SEBI, speaks on the Adani Group crisis. Listen in.
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