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    Vikshita Vitthal Gujaran in News

    02-Feb-2023 07:16 AM


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    ‘Interest of investors paramount… will review capital raising’: Gautam Adani, day after FPO is scrapped

    A day after the Adani Group decided to call off the Rs 20,000-crore follow-on public offer (FPO) and return the money to investors, chairman Gautam Adani, explaining the move, said that the “interest of his investors was paramount and everything else is secondary”.

    In a video message on Thursday morning, he said that the group will review its capital raising plan once the market stabilises. “In my humble journey of over 4 decades as an entrepreneur, I have been blessed to receive overwhelming support from all stakeholders particularly the investor community. It is important for me to confess that whatever little I have achieved in life is due to the faith and trust reposed by them. I owe all my success to them. For me, the interest of my investors is paramount and everything else is secondary. Hence to insulate the investors from potential losses we have withdrawn the FPO,” Adani added.

    Source-https://indianexpress.com/article/business/gautam-adani-statement-fpo-scrapped-stocks-8419066/ - https://indianexpress.com/article/business/gautam-adani-statement-fpo-scrapped-stocks-8419066/