We’re inter-generational holders of equity: Gautam Adani on Mauritius funds

Weeks after confusion over three Mauritius-based funds whipsawing shares of Adani group firms, billionaire Gautam Adani on Monday said that “twisted narrative” seems to imply that companies have regulatory powers over their shareholders and can compel disclosures.

Shares of port-to-energy group nosedived last month after reports that accounts of three of the six Mauritius-based funds that have invested most of their money in Adani group firms had been frozen by the national share depository. The three funds owned about USD 6 billion of shares across the conglomerate.

Adani group company shares had continued to fall for almost a week despite the Adani group’s refutal.

“We are inter-generational holders of equity,” Adani, 59, said at the annual shareholder meeting of his group’s listed firms on Monday.