Adani Group FPO / Why did Adani Group suddenly cancel the FPO? Know what is the reason

Adani Group FPO: After the withdrawal of the FPO by the Adani Group, Group chief Gautam Adani issued a video statement explaining the reason behind the decision. He said in his statement that the decision to withdraw the FPO after successful subscription may have surprised many, but considering the volatility of the market yesterday, our board felt that it was not ethically correct to go ahead with the process Will happen.

Gautam Adani said- In our journey as a businessman over the last four decades, we have been fortunate to have received warmth and support from all our partners, especially from investors. It is important for me to acknowledge that whatever little achievement I have achieved in life is because of the trust of the investors. All my success is his success. For me, the interest of my investors comes first, and everything else comes second. To save investors from loss, we have withdrawn the FPO.

मेरे लिए मेरे निवेशकों का हित सर्वोपरि है। इसलिए निवेशकों को संभावित नुकसान से बचाने के लिए हमने FPO वापस ले लिया है। इस निर्णय का हमारे मौजूदा परिचालनों और भविष्य की योजनाओं पर कोई प्रभाव नहीं पड़ेगा। हम समय पर क्रियान्वयन पर ध्यान देना जारी रखेंगे: गौतम अडानी,अध्यक्ष,अडानी समूह pic.twitter.com/wirfknIkmD

— ANI_HindiNews (@AHindinews) February 2, 2023

He said that this decision will not have any impact on our current operations and future plans. We will continue to focus on timely completion and delivery of projects. Our company foundations are strong. Our balance sheet is strong and our assets are strong. Our cash flow has been very strong. We have a strong track record of servicing our debt obligations. We will review our capital market strategy once the market stabilises.