Sebi probing Adani’s links with investors in aborted $2.5 billion FPO
Markets regulator Securities and Exchange Board of India (Sebi) is investigating Adani Group’s links to some of the investors in the conglomerate’s aborted $2.5 billion share sale, two sources said, amid growing concern in New Delhi about a US short-seller’s allegations against one of the country’s top industrial groups.
The Sebi is looking into any potential violation of Indian securities laws or any conflict of interest in the share sale process, said the two sources who have direct knowledge of the matter.
The watchdog is investigating relationships between Adani and at least two Mauritius-based firms — Great International Tusker Fund and Ayushmat — which participated as anchor investors, among others, said the sources, who spoke on the condition of anonymity due to the confidential nature of the probe.
