India and Asia’s second-richest Gautam Adani has suffered a significant setback. National Securities Depository Limited has freezes the accounts of three foreign funds Albula Investment Fund, Cresta Fund, and APMS Investment Fund.Thank you for reading this post, don't forget to subscribe!
It is being told that he has shares worth more than Rs 43,500 crore in four companies of the Adani Group.
This has led to a considerable fall in the shares of Adani’s companies. In many of his companies, the lower circuit has been engaged. As soon as the trading started in the stock market, the stock of Adani Enterprises fell by 10 percent, due to which the lower circuit was hit.
After this, a lower circuit was also installed in Adani Green. It is being told that the three companies whose accounts have been freezes all three have a 6.82 percent stake in Adani Enterprises, 8.03 percent in Adani Transmission, 5.92 percent in Adani Total Gas, and 3.58 percent in Adani Green.
According to the NSDL website, these accounts were frozen on or before May 31. With the account being frozen, these funds can no longer sell or buy new shares in their account. These three funds are registered with the market regulator SEBI as Foreign Portfolio Investors and operate out of Mauritius.