The Reserve Bank of India (RBI) has sought information from banks in the country about their contacts in the Adani group. The RBI has asked domestic banks to provide information about their investments and loans to the Adani group. The Reserve Bank has taken this step after the ongoing ups and downs in the shares of Adani Group.
Banking sector sources said on Thursday that the RBI has sought information from nationalized banks about their investments and loans in the Adani group. However, late in the night, Adani Enterprises, despite being fully subscribed, announced the withdrawal of its ₹20,000 crore follow-on public offering (FPO) and return of investors’ money.
Gautam Adani said in a statement that in view of the ongoing volatility in the market, the board of directors of the group has decided to withdraw the FPO.
It is noteworthy that the shares of Adani group companies have fallen by more than $90 billion worth since the report of American research company Hindenburg became public. After this, the group has decided to withdraw the ₹20,000 crore FPO of Adani Enterprises. The company’s stock is trading at ₹1,724.50, down 19.24 per cent, on the BSE and at ₹1,731.15, down 18.93 per cent on the NSE.
