The National Security Depository Limited (NSDL) has frozen the accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund – three Foreign Portfolio Investors (FPI) – according to its website. Together, the three funds own over ₹43,000 crore in four companies of Adani roup.
The NSDL website has put the names of these four funds under the securities frozen till May 31 this year. No address of the client has been mentioned on the website; it only has the entity’s PAN card details.
Shares of Adani Group companies fell between 5% and 18% on Monday after the news about NSDL action against the three firms emerged.
Adani Enterprises and Nifty 50-listed Adani Ports and Special Economic Zone were the top losers, falling over 15% each.
