Why Did Adani Group Change Its Mind About The FPO? | Group stocks hit lower circuit | Hindenburg

Gautam Adani-led Adani Enterprises had called off its Rs 20,000 crore follow-on public offer (FPO) and said money will be returned to investors. This comes following sharp decline in the value of Adani Group stocks following the release of the Hindenburg Research report that accused the group of “brazen stock manipulation and accounting fraud”.

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