The Adani group will review the capital raising plans of group flagship Adani Enterprises once it’s share price stabilises, Chairman of the Adani group, Gautam Adani said.
A day after withdrawing its Rs 20,000 crore follow on offer, Adani said the decision to withdraw FPO would have surprised many, but considering the volatility of the market seen on Wednesday, the AEL board strongly felt that it would not be “morally correct” to proceed with the FPO.
Adani said he has received overwhelming support from all stakeholders particularly the investor community in the past and the interest of group’s investors is paramount. “Hence to insulate the investors from potential losses we have withdrawn the FPO.
