Adani Enterprises FPO: Gautam Adani’s statement after canceling the FPO – the interest of investors is paramount
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New Delhi, Business Desk. After withdrawing the FPO (Adani Enterprises FPO Cancelled) of Adani Group’s flagship company Adani Enterprises, Chairman Gautam Adani has released a video, in which the decision taken by the company has been explained in detail.
Adani said that there was a sharp ups and downs in the market yesterday. Due to this, the FPO was withdrawn by the board of the company. The Board is of the view that it is not ethically sound to go with the FPO after the share price has fallen.
interest of investors paramount
Adani further said that for me the interest of investors is paramount and everything else is second. In view of the possible loss to the investors, the company has decided to withdraw it. This decision will not affect any of our future plans. We will complete our plans on time.
our balance sheet is strong
He further said that our balance sheet is strong and so are the assets. Along with this, EBITDA and cash flow are also in very good condition. We have always been meeting all our debt obligations. We will continue to focus on creating value over the long term and growth will be managed by internal resources.
focus on esg
We will review our capital market strategy once the market stabilises. We have a strong focus on ESG and each of our businesses will continue to create value in a responsible manner. The strongest validation of our governance principles comes from our many international partnerships.
There was a fall in the shares of the group yesterday.
Let me tell you, yesterday there was a huge fall in the shares of Adani Group. Shares of Adani Enterprises fell by 28.40 percent. Adani Port 19.69 percent, Adani Power 4.98 percent, Adani Transmission 4.98 percent, Adani Green Energy 5.78 percent, Adani Total Gas 10 percent, Adani Adani Wilmar fell by 5 per cent, Ambuja Cement by 16.56 per cent and ACC by 6.35 per cent.
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