Business / Adani Group's statement - The news of account freeze is wrong, yet 1.03 lakh crores drowned in one day

A news and industrialist Gautam Adani's shares started taking a lower circuit on Monday. There was a ruckus among those who invest in Adani Group companies. The news came that the National Securities Depository Limited (NSDL) has freeze three foreign funds accounts, and they have shares worth more than Rs 43,500 crore of Adani Group's 4 companies.

After this report, the total market cap of Adani Group fell more than 10 per cent, ie 1.03 lakh crore rupees. After the market closure on Monday, the market cap of Adani Group fell to Rs 8.9 lakh crore. While earlier, the market cap of companies was 9.5 lakh crore on Friday.

On the Monday, the market opened on Monday, all the companies of Adani Group became dominated. Due to the lower circuit in all companies of Gautam Adani, the group's market cap dropped to Rs 8.5 lakh crore during the initial business. However, after which the decline in the stock gradually decreased and the market cap of Adani Group's companies increased slightly to Rs 8.9 lakh crore.

Investors were waiting for Adani Group's statement, and afternoon, Adani Group told both the exchanges that the news of freeze the account is wrong. The group said that deliberately planting this news by anyone to discourage investors. The group said that till June 14, the demat account of any foreign investor has not been freezed.

Not only this, Adani Group said that no such action has been taken on any of them who are being talked about action on three foreign investors. This news has also reached the reputation of the group with the loss of investors. Adani Group said that we are revealing in the interest of minority stock holders that no such action has been made.

Significantly, according to the news, action has been taken on the Albula Investment Fund, Kresta Fund and APMS Investment Fund. According to NSDL, the total investment of these three has been Rs 43,500 crore in Adani's companies. These accounts were freezed because SEBI does not have information about them. Also, who is the owner of these money, it does not even know, so action has been taken under the Money Laundering Act.

The stake in the Adani Enterprises of these investors is 6.82%, its value is Rs 12,008 crore. Advani transmission is 8.03% investment and its value is Rs 14,112 crore. 3.92% investment in Adani Total gas, its value is Rs 10,578 crore. While Adani is an investment of 3.58% in Green Energy, its value is Rs 6,861 crore.