MUMBAI: On Monday morning, as it emerged that the accounts of three foreign funds with large exposure in Adani Group’s stocks have been frozen, investors on Dalal Street went into a panic mode. The three Mauritius-based foreign portfolio investors (FPIs) — Albula Investments, APMS Investment and Cresta Fund — together had about Rs 43,000 crore worth of holdings in six companies belonging to the Ahmedabad-based group, run by billionaire investor Gautam Adani.
There are at least six FPIs with large exposure in Adani Group stocks. According to disclosures on the BSE, one of the six, Cresta Fund, holds nearly 3% in Adani Enterprises, which was worth about Rs 5,000 crore as of Friday, while Albula’s 2.1% stake was worth about Rs 3,700 crore.
