An intensive scope of progress is expected by foreign investors in Adani FPO, as they are ready to devote their money in it
Following the Hindenburg report, the follow-on public offering of Adani Enterprises, i.e. FPO, is buzzing amid a major crash in the shares of Adani Group companies. UAE's major listed company International Holding Company (IHC) announced an investment of Rs 3261.29 crore in the FPO of Adani's company. IHC has invested through Subsidy Green Transmission Investment Holding RHC Limited. IHC is a well known company located in Abu Dhabi. It is among the companies with the highest market cap at the local level. This company has also invested in anchor book.
IHC CEO Syed Basar Shuaib said that we are confident in the fundamentals of Adani Enterprises. Adani Enterprises has strong growth potential in the long term. Due to which we have decided to invest in it. So that the value of the shareholders can be increased. Shuaib said that the advantage of investing in FPOs is that the company's earnings report, company's management, business practices along with a lot of data are available for decision making.
Adani Enterprises' Rs 20,000 crore FPO can be subscribed till January 31. The price band for this FPO is Rs 3112-3276. In which retail investors will get a discount of 64 rupees.
Adani Group termed Hindenburg Research report as a well-planned conspiracy against India
After the Hindenburg Research report, the Adani group entered the fray with preparedness. Adani Group said that out of 88 questions raised by Hindenburg, 68 questions have already been answered by Adani Group companies.
In response to Hindenburg's 413-page research report, Adani called Hindenburg a short seller. According to Adani's statement, Adani Portfolio and Adani Group are committed to adapting to the global economy and nation building. Adani's report said that holding short positions in Adani shares is likely to cause bearishness in the stocks. Adami shares have been bearish since the January 24 report was published, so Hindenburg sold Adani shares with a large amount of money. In a very responsible reply, the Adani Group has said that the Adani Group's response also raises questions about Hindenburg's ulterior motives and modus operandi, which conveniently bypassed the Indian judiciary and regulatory framework. Adani Group's detailed response covered its governance standards, reputation, best practices, transparent conduct, financial and operational performance and excellence.
The Adani Group said the Hindenburg Report was created with the express intention of making a profit at the cost of our shareholders and public investors. It is a manipulative document fraught with conflict of interest and aimed at creating a false market in securities to book false profits, which clearly constitutes securities fraud under Indian law.
Of the 88 questions posed by Hindenburg, 68 referred to the offering of periodical memorandums, financial statements and stock exchange disclosures by Adani group companies in their respective annual reports. Of the 20 questions, 16 are related to public shareholders and the sources of their wealth, while the remaining four are just baseless allegations.
Foreign company half-invested in Adani's FPO, said; Immense potential for strong growth at Adani
Following the Hindenburg report, the follow-on public offering of Adani Enterprises, i.e. FPO, is buzzing amid a major crash in the shares of Adani Group companies. UAE's major listed company International Holding Company (IHC) announced an investment of Rs 3261.29 crore in the FPO of Adani's company. IHC has invested through Subsidy Green Transmission Investment Holding RHC Limited. IHC is a well known company located in Abu Dhabi. It is among the companies with the highest market cap at the local level. This company has also invested in anchor book.
IHC CEO Syed Basar Shuaib said that we are confident in the fundamentals of Adani Enterprises. Adani Enterprises has strong growth potential in the long term. Due to which we have decided to invest in it. So that the value of the shareholders can be increased. Shuaib said that the advantage of investing in FPOs is that the company's earnings report, company's management, business practices along with a lot of data are available for decision making.
Adani Enterprises' Rs 20,000 crore FPO can be subscribed till January 31. The price band for this FPO is Rs 3112-3276. In which retail investors will get a discount of 64 rupees.