Gautam Adani explains why he was forced to withdraw Rs 20,000 crore-FPO

Billionaire Gautam Adani, who is in the middle of a storm following allegations made in the Hindenburg report, today said he had to withdraw Adani Enterprises NSE -8.12 %’ Rs 20,000 crore FPO to protect investors from potential losses.

“For me, the interest of my investors is paramount and everything is secondary. Hence to insulate the investors from potential losses we have withdrawn the FPO,” Adani said in a message to shareholders.