Calling it a morally correct step, Gautam Adani said in a statement that the board took the decision to withdraw the FPO considering the volatility of the market.
Gautam Adani, Chairman, Adani Enterprises Ltd referred to the volatility in the stock over the last week and said the interest of the investors is paramount and to insulate them from any potential financial losses, the Board has decided not to go ahead with the FPO.
The initiative is being launched to commemorate 'Azadi Ka Amrit Mahotsav'. "One-time new small saving scheme under 'Mahila Samman Saving Certificate' will be made available up till March 2025.
Gautam Adami dropped to 7th position on the Forbes Billionaires list as his net worth fell by over $22 billion following the Hindenburg Research report