FPO: Adani Group will not cut share price | Adani Enterprises says $2.5 billion share valuation on track even as bankers gloat

New Delhi: Adani Group will not reduce share price in subsequent public offering. Amidst the controversies, there were reports that Adani shares will be cut in price. Meanwhile, the company’s response.

There were also reports that banking institutions were planning to reduce Adani’s share price to delay the FPO. Adani Group’s response has denied all this. Grŵp Adani responded that there will be no change in the price of the shares or the sale date. According to the statement released by the company, all shareholders, including banking institutions and investors, are in favor of the sale.

Seven companies owned by Adani have lost $48 billion in the stock market in recent days. Adani Enterprises lost 20 percent on Friday.

Earlier in the FPO, Adani Group fixed the price at Rs 3112 per share. Adani Enterprises is currently closed at Rs 2,768.50. The final decision in this regard is expected to come on Monday.

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