Adani Enterprises decided not to go-ahead with its fully subscribed Follow-on Public Offer (FPO), with the Group chairman Gautam Adani stating on Thursday that it would not be "morally correct" to go ahead with the Rs 20,000-crore share in the current market condition.
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.