A low of 3 per cent was detected in the share price of the Adani Enterprises, on August 23. It was found out on an investigation against Adani Wilmar due to the IPO not being conjured.
Adani Enterprise has 50 per cent stakes in Adani Wilmar which constitutes the oil brand Fortune.
“As regards the query raised by you about the FPI, we would like to mention that we have communicated to media and the public at large that the group has no connection with the FPIs, either directly or indirectly. Unfortunately, the media is repeatedly raising the issue time and again misleading the investing community. FPIs are investors like other investors/shareholders in Adani Group and act independently – having no relationship with Adani Group,” a spokesperson said.
The SEBI is said to hold the 4500 crores public offering as “ kept in abeyance “ if an Argo commodity company because of the ongoing investigation against the Adani Group.