Adani CFO Says FPO To Sail Through With Institutions Buying Majority

Days after a shocking $50 billion selloff across group stocks – Adani Group CFO Jugeshinder 'Robbie' Singh spoke with BTTV Managing Editor Siddharth Zarabi on the Rs 20,000 crore follow-on share sale of Adani Enterprises. Stating that he was confident the FPO is on track and sailing through, Singh said it will have smooth sailing with institutions subscribing to nearly the entire issue, as retail investor interest remains tepid. The issue price is not being lowered, and neither is the issue time being extended, with the FPO slated to close on Tuesday, he added. The company also said that it has answered all the 88 questions raised by Hindenburg Research, arguing that there were no governance issues with the group.