Karan Adani has canceled his FPO due to the falling level of Adani Group in the stock market. The issued FPO was subscribed 1.25 times by the investors. The money invested by the investors will be refunded soon. Due to the arrival of Hindenburg report, the shares of Adani Group have come down drastically and this decline has continued continuously.
Adani Group took U-Turn.
The FPO in the stock market brought by the Adani group has been canceled due to falling stock prices and huge disappointment among the investors since the report came. This is a big blow to the investors who have invested their money. Investors had invested a lot of money in this FPO, but now due to cancellation, their money is being returned instead of the expected profit.
Adani Gas fell to half the price in 5 days.
Adani total gas share where 5 days ago the trading session was at ₹ 3854 on January 25, the same closed at just Rs 1897.40 on February 2 after just 5 days of trading session. Investors who have invested money in this have lost half of their money in just 5 days.
In Adani power share also people suffered heavy losses.
People who have invested money in this power sector share of Adani Group have lost almost a quarter of their money in just 5 days. The disadvantage is that the price of the share which was ₹ 270 on January 25, was only ₹ 212 65 paise at the time of closing of the market on 1 February.
Adani Ports and Special Economic Zone Ld also caused losses.
People investing in Adani Ports and Special Economic Zone Ld thinking that they are multibaggers are also badly trapped and in just 5 days the people holding this stock have incurred a loss of 31.58%. This stock made a loss of 17.73% to the people yesterday on 1st February.
Adani FPO canceled
At present, in the midst of huge turmoil, the company has decided to cancel the FPO and has canceled it. The company said that this is a step towards maintaining the confidence of investors.