SEBI: India’s market regulator Securities and Exchange Board of India (SEBI) is also alert on every movement related to Adani Group. It has been reported that SEBI will keep the updates of the matter related to the withdrawal of Adani Group’s Follow-on Public Offer (FPO) in front of Finance Minister Nirmala Sitharaman. This information has come from two sources having knowledge of the news.
Information will be given to the Finance Minister this week
According to Reuters, SEBI officials are going to meet Finance Minister Nirmala Sitharaman on February 15 this week i.e. Wednesday. According to the sources, this information has come and he has given this information on the condition of anonymity because he is not allowed to talk to the media. Sources also said that SEBI’s board will apprise the finance minister about the measures adopted by the market regulator after the recent stir in Adani Group’s shares so that the matter can be monitored.
Adani group lost more than 100 billion dollars
Listed companies of the Indian business conglomerate Adani Group have lost more than $100 billion since February 24. This happened after the report of the American firm Hindenburg Research came to the fore. Adani Group’s flagship company Adani Enterprises’ FPO was called off after the short seller Hindenburg Group reported in late January that its floor price had gone way below the company’s actual share price in the stock market.
SEBI can investigate these matters
Sources also said that investigation can also be conducted regarding the funds coming from outside in the institutions of Adani group. However, SEBI has not responded to the email written by Reuters. Reuters was the first to report that market regulator SEBI is probing the stock market direction of Adani Group on a large scale. In this, not only will there be information from the trade pattern of the group to the stalled share sale, the funds coming from outside can also be investigated.