AdaniGroupFPO

The owner of Adani Enterprises Mr Gautam Adani is in the Headlines  since he was out of the list of richest people across the Asia, and today again he is in the news. Lets Know  the reason behind it.The Board of Adani Enterprises Ltd,(AEL) decided not to go-ahead with the  subscribed Follow-on Public Offer (FPO).  Keeping in mind the  current situation and the  market volatility the company is now  aiming  to protect the interest of their investing community by returning the FPO proceeds and withdraw all the  transaction. Gautam Adani, Chairman, Adani Enterprises Ltd said, “The Board takes this opportunity to thank all the investors for your support and commitment to our FPO. The subscription for the FPO closed successfully yesterday. However, today the market has been unprecedented, and our stock price has fluctuated over the course of the day. Given these extraordinary circumstances, the Company’s board felt that going ahead with the issue would not be  correct. The in