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Abu Dhabi’s IHC has invested $400 million in Adani Enterprises’ ongoing follow-on public offering (FPO), it said in a statement on Monday. The co’s FPO has seen a tepid response since the time it opened for subscription last week, mainly after investors got concerned post Hindenburg’s report on the Adani group.
Adani’s Group CFO earlier today had informed media that they are confident of the FPO being successfully completed, despite the news around. The had also clarified on the reports released by Hindenburg. However, Hindenburg replied saying that the group has still failed to answer atleast 62 out of the 88 questions asked by them in the report.
IHC, in a statement on Monday said that their interest in the Adani group is driven by the confidence in their fundamentals.
“Our interest in Adani Group is driven by our confidence and belief in the fundamentals of Adani Enterprises Ltd; we see a strong potential for growth from a long-term perspective and added value to our shareholders,” said Syed Basar Shueb, Chief Executive Officer, IHC in a statement
