The accounts of three foreign funds, which are among the biggest stakeholders of the group of veteran industrialist Gautam Adani, have not been frozen. Adani Group said this on Monday. The group has said that it has received this information in writing. The group has said that the report related to this is completely false and misleading. Earlier on Monday, shares of all Adani Group companies fell badly after reports that the National Securities Depository Limited (NSDL) has frozen the accounts of three foreign funds involved in the companies’ stakeholders.
Adani Group companies gave information to the stock exchanges
Adani Ports and Special Economic Zone, Adani Green Energy Ltd, Adani Transmission Ltd, Adani Power and Adani Total Gas Ltd along with Adani Enterprises, the flagship company of the Adani Group, said in their filings with the stock exchange that Albula Investment by NSDL NSDL’s report of freezing the accounts of the Fund, Cresta Fund and APMS Investment Fund is “completely false and has been done to deliberately mislead the investors”.
These companies have said, “This has caused damage to the economic value of investors and the reputation of the group at large.”
Know other things related to this news
According to reports, Albula Investment Fund, Cresta Fund and APMS Investment Fund have been described as freeze on NSDL’s website. Also, no reason has been given for the same.
According to the Annual Investor Presentation of March 31, 2020, all three funds are among the top 12 investors of Adani group companies and their holding in these companies ranges from 2.1 percent to 8.91 percent.
However, as soon as this report came out on Monday, the shares of the Adani group companies were completely in turmoil. The stock of Adani Enterprises fell by 24.99 percent to Rs 1,201.10 on the BSE, while the stock of Adani Ports and Special Economic Zone had fallen by 18.75 percent to Rs 681.50.
