Adani Enterprises first to cancel share sale after full subscription
As per data provided by Prime Database, these 29 companies were targeting to raise a cumulative of Rs 11,000 crore02-02-2023
02-02-2023
ADANI ENTERPRISES LTD. - 512599 - Withdrawal Of The Further Public Offer Of Partly Paid Equity Shares Of Face Value Of Re. 1 Each (The 'Offer') By Adani Enterprises Limited (The 'Company') And The Red Herring Prospectus Dated January 18, 2023 ('RHP') Filed By The Company With The Registrar Of Companies, Gujarat At Ahmedabad ('Roc') In Relation To The Offer
Withdrawal of the further public offer of partly paid equity shares of face value of Re. 1 each (the 'Offer') by Adani Enterprises Limited (the 'Company') and the red herring prospectus dated January 18, 2023 ('RHP') filed by the Company with the Registrar of Companies, Gujarat at Ahmedabad ('RoC') in relation to the Offer02-02-2023
Gautam Adani addresses investors on withdrawn FPO
Chairman of Adani Enterprises, Gautam Adani, addresses investors on the withdrawn FPO after Adani Group share prices collapse. Watch the full video. Management in attendance: Chairman Gautam Adani02-02-2023
Adani Enterprises shares tank 15%; most group firms also fall
Adani Group stocks have taken a beating recently after Hindenburg Research made a litany of allegations in its report02-02-2023
Adani Board Cancels FPO: Gautam Adani Says "Not Morally Correct" To Go Ahead
Adani Enterprises has called off its Rs 20,000 crore share sale due to prevailing market conditions, the company said on Wednesday, days after a rout in its stocks following criticism by a US short-seller.01-02-2023
ADANI ENTERPRISES LTD. - 512599 - Updates Under Regulation 30 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015
Updates under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 201501-02-2023
Adani Enterprises FPO gets fully subscribed as HNIs come to the rescue
the company's confidence that the FPO would go through was justified despite the damaging allegations made by short-seller hedge fund Hindenburg Research31-01-2023
Adani stocks in MFs: Index Funds and Quant Equity Funds have the maximum exposure
A recent research report by Hindenburg, a US-based research firm, has cast the spotlight back on India’s regulatory environment, through allegations of stock manipulation and questionable accounting practices by the Adani Group. Adani group shares have since lost nearly $40 billion market cap. While the group has rejected the allegations it has yet to address several of the points raised in the Hindenburg report, Investors are consequently wary. Most of the Adani stocks have lost more than a quarter of their value since the allegations came forth. Note: Adani Group consists of the above set of stocks The impact of the allegations on Adani stocks has been at varied degrees across investor segments. It affected mutual funds, Exchange Traded Funds (ETF) and banking stocks. Higher passive mutual fund exposure to Adani shares Equity mutual funds are exposed to the tune of Rs 26,285 crore towards Adani Group shares.The highest exposure has been to Ambuja Cements, ACC and Adani Ports, which constitute nearly 60% of the total exposure of mutual funds. Actively managed funds have stayed away from the Adani group as a whole, Fund managers are skeptical of its valuations and debt overhang. Index funds which are passive in nature constitute nearly 28% of the exposure. As long as Adani stocks are part of Nifty Indices, ETFs cannot get into selling these stocks. Adani Ports and Adani Enterprises are part of Nifty 50, while Adani Green and Adani Transmission find their place in Nifty Next 50. Index funds are followed by arbitrage funds, which constitute nearly 23% of total mutual fund exposure towards the Adani group. These are mostly algorithm-driven with minimal human intervention. Note: All values in Rs crore Among fund houses, Quant Fund (11.07%) and Taurus Asset Management (10.90%) will have the biggest impact on NAV due to the Adani group fallout. While SEBI does not allow mutual funds to invest more than 10% of their portfolio in a single issuer, the guidelines are not clear when it comes to group entities. Most big fund houses like HDFC, Axis, ICICI and SBI have stayed away from Adani group stocks, limiting their exposure below 4%. Motilal Oswal and Kotak Mahindra have been the exception with 5.31% and 4.54% exposure respectively. Equity Mutual Funds have an exposure of 2.39%. Note: All values in Rs crore Nifty 50 index ETFs are having exposure of 2.09%, whereas Nifty Next 50 ETFs have 14%. The recent run-up of Adani group stocks has led to higher exposure of ETFs. Funds with greater than 10%+ exposure have see a bigger drop in Net Asset Value Among actively managed funds, Quant schemes feature in funds with greater than 10% exposure to Adani group. Mutual funds are designed to diversify investments, so even a concentrated 15-stock portfolio will not have more than 6-8% exposure to a single group. Schemes with 10%+ exposure have seen NAV drop by 3-4%, considering the recent rout in Adani stocks. Even savings schemes, which are considered to be conservative and risk-averse, have seen a high degree of exposure to a single group. Note: All values in Rs crore The recent sell-off in the market was dominated by the retail segment, while FPIs and mutual funds did not fully participate. Fitch group had cited concerns over Adani group’s leverage levels earlier. This was in August 2022, before the recent allegations broke out. Adani group, in response, had stated that they were in a sound financial position and reducing their debt levels. The recent allegations by Hindenburg are different as it’s not about the group’s financial condition but more about governance and misappropriation. Even though the group has denied the allegations, its stocks are still tumbling on the bourses.31-01-2023
Shares of some Adani group firmscontinuesharpdecline
The bearish onslaught on several Adani group stocks continued for the third day, with trading in some halted as they hit circuit breakers, even as bulls managed to recoup some losses in Adani Enterprises, the group flagship running India's largest follow-on public offering31-01-2023
Maybank says no impact from subscription to Adani's share offering
Subscriptions to Adani Enterprises' offering were client subscriptions and fully funded by client funds, the bank told Reuters in an emailed statement30-01-2023