"After a fully subscribed FPO, yesterday's decision of its withdrawal would have surprised many. But considering the volatility of the market seen yesterday, the board strongly felt that it would not be morally correct to proceed with the FPO," Adani said in his address to investors after
The company said in a release that given the unprecedented situation and the current market volatility, it "aims to protect the interest of its investing community by returning the FPO proceeds and withdraws the completed transaction".
Adani Enterprises had filed a red herring prospectus with the markets regulator Securities and Exchange Board of India (SEBI) for the Rs 20,000 crore follow-on public offer (FPO), the largest ever in India.
Adani Enterprises had filed a red herring prospectus with the markets regulator Securities and Exchange Board of India (SEBI) for the Rs 20,000 crore follow-on public offer (FPO)
Reportedly, the research firm, in its report on Tuesday, raised concerns about shares of Adani group companies having a possibility of declining from their current levels, owing to high valuations.
According to the statement shared with exchanges, the company has fixed the floor price for the FPO equity share at Rs3,112 per share, 13 per cent discount from Wednesday's closing of Rs3,584.9 on NSE.
The cabinet on Wednesday approved the setting up of a national level Multi-state cooperative export society under the Multi-State Cooperative Societies (MSCS) Act, 2002, said Union Minister for Environment, Forest and Climate Change, Bhupendra Yadav.
Mumbai (Maharashtra) [India], January 6 (ANI/PNN): Agribid Private Limited, an established Agritech Company in India, has launched a first-of-its-kind Farmer Producer Organizations (FPO) initiative known as Agribid-FPO' to work closely with over 300 FPOs and provide them with a deeper rural
Lucknow (Uttar Pradesh) [India], January 2 (ANI/SRV): Knowledge Chamber of Commerce and Industry (KCCI) successfully organized FPO Leadership Summit & Exhibition at Indira Gandhi Pratishthan, Lucknow, Uttar Pradesh recently. The other organisation includes UP FPO, SFAC and Summit is supp
New Delhi [India], December 7 (ANI/BusinessWire India): The investment is a structured deal involving debt flow under the collect and pay trade model, which is an exclusive proprietary product of the BharathKisaan platform. Under BharathKisaan collect and pay model small, marginal farmers
Pune (Maharashtra) [India], November 25 (ANI/PRNewswire): A webinar on 'Promoting FPOs for resilient incomes and sustainable farming practices in India' brought together practitioners and experts to discuss emergent challenges and opportunities related to Farmer Producer Organisations (FPOs)