Adani Group News Update: Billionaire businessman Gautam Adani’s group will raise around Rs 21,000 crore by selling shares of his two companies. This is considered a very risky decision by the group which suffered heavy losses after allegations of fraud by American short seller Hindenburg.
Adani Group News Update: Billionaire businessman Gautam Adani’s group will raise around Rs 21,000 crore by selling shares of his two companies. This is considered a very risky decision by the group which suffered heavy losses after allegations of fraud by American short seller Hindenburg. The Adani group has termed all the allegations of Hindenburg as baseless.
Adani Group will raise Rs 12,500 crore
Adani Group’s flagship firm Adani Enterprises Ltd plans to raise Rs 12,500 crore, while another company Adani Transmission will raise the remaining Rs 8,500 crore, two companies of the Adani group told the stock market.
Meeting postponed for May 24
The board of directors of Adani Green Energy Limited, the renewable energy arm of the group, was also scheduled to meet on Saturday to raise funds, but this meeting has now been postponed to May 24. The fund raising will be by way of issue of shares to qualified institutional buyers. Sources aware of the matter said that investors from Europe and the Middle East have shown a lot of interest in it.
The Supreme Court gave these instructions,
let us tell you that the Supreme Court said that it will consider giving three more months to the Securities and Exchange Board of India (SEBI) to complete the investigation into the allegations of manipulation of share prices by the Adani group. Along with this, the court said that it has not said anything about regulatory failure.
Hearing will be held in the Supreme Court on May 15
The court listed various public interest litigations and the market regulator’s petition for hearing on May 15. SEBI has requested to extend the time to complete the investigation of alleged misappropriation of Adani Group.
