New Delhi: America’s short-selling company Hindenburg has created difficulties for the Adani Group which is not giving up. Adani’s fortunes have halved since the Hindenburg allegations, but the problems don’t seem to be stopping. Rating agencies have given negative ratings to the company. Index provider MSCI reduced the free float position of Adani shares. Now SEBI has started the investigation. SEBI will investigate Adani’s relations with some investors. SEBI has now started probing Adani Enterprises’ relationship with two anchor investors associated with the FPO.
FPO was issued for Rs 20,000 crore
The company’s relationship with two investors Great International Tusker Fund and Ayushman Limited will be probed by SEBI Adani FPO, which was later withdrawn by the company. SEBI has initiated an inquiry into the violation of norms in the purchase of shares. Both the anchor investors investing in Adani’s FPO are based in Mauritius. Adani Group had issued an FPO of Rs 20,000 crore. It was withdrawn despite full membership. Now SEBI is going to scrutinize the process of FPO. It will be probed whether he has any relation with the investors or any kind of interest.
Elara Capital and Monarch Networth Capital are also under watch
Elara Capital and Monarch Networth Capital are also being monitored by SEBI among the ten investment banks managing the FPO. Hindenburg has mentioned both of these in his research report. Hindenburg has alleged that the two have a partnership in a private company owned by Adani. Now SEBI is also probing whether there is any collusion between Elara and Monarch in the FPO.
