Adani Group Rules Out Changes In Price, Dates Of Sale Of New Shares
NDTV
The FPO got subscribed just one per cent on the opening day on Friday. Against an offer of 4.55 crore shares of Adani Enterprises Ltd, only 4.7 lakh shares were subscribed, according to information available from the BSE.
Billionaire Gautam Adani's group on Saturday ruled out any changes in price or the dates of the Rs 20,000 crore follow-on share sale at the conglomerate's flagship firm despite its stocks being hammered below the offer price after a scathing report by a US short seller.
"Adani Enterprises Limited's further public offer (FPO) is going as per schedule and the announced price band. There is no change in either the schedule of the issue price," a group spokesperson said.
The FPO got subscribed just one per cent on the opening day on Friday. Against an offer of 4.55 crore shares of Adani Enterprises Ltd, only 4.7 lakh shares were subscribed, according to information available from the BSE.
Adani Enterprises fell almost 20 per cent to below the offer price of its secondary sale as all the seven listed companies of the conglomerate took a beating in the aftermath of Hindenburg Research alleging that the group was "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades".
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