Adani Group on Monday termed the report as “Blatantly Erroneous” which stated that the National Securities Depository Limited (NSDL) has frozen accounts of three international portfolio buyers (FPIs) holding shares within the group firms. Earlier within the day, media report recommended that NSDL had frozen accounts of three international funds – Albula Investment Fund, Cresta Fund and APMS Investment Fund following which Adani Group shares got here underneath intense promoting stress. Shares of the Adani Group’s flagship firm Adani Enterprises dropped as a lot as 25 per cent.
“We regret to mention that these reports are blatantly erroneous and is done to deliberately mislead the investing community. This is causing irreparable loss of economic value to the investors at large and reputation of the group,” Adani Enterprises stated in a inventory change submitting.
Adani Enterprises requested Registrar and Transfer Agent with respect to the standing of demat accounts of the international funds and obtained written reply from them clarifying that Demat Account by which the aforesaid funds maintain the shares of the Company will not be frozen, Adani Enterprises added.
After the corporate’s clarification shares of Adani Enterprises staged a restoration and had been down 5 per cent at Rs 1,508 in comparison with its fall of 25 per cent earlier within the day.