Adani stocks fall up to 20%; Adani Ent, Green Energy, Transmission hit lower circuit

Since the launch of the FPO, Adani Enterprises has lost ₹2.14 lakh crore, while Adani Power, Adani Wilmar, Adani Port, Adani Total Gas, Adani Transmission, Adani Green, ACC, and Ambuja lost ₹28,020 crore, ₹19,716 crore, ₹64,000 crore, ₹2.39 lakh crore, ₹1.33 lakh crore, ₹1.38 lakh crore, ₹9,217 crore and ₹29,010 crore, respectively.  

In a fresh development, Gautam Adani is reportedly in talks with creditors to prepay some loans backed by pledged shares to restore investors’ confidence about group companies’ financial health. On Thursday, the management issued a statement refuting media reports that shares of ACC and Ambuja Cements were pledged by promoters as a part of the acquisition financing. “We would like to clarify that none of the shares of Ambuja or ACC have been pledged by Promoters. The Promoters have only provided non-disposal undertaking and accordingly, there is no requirement of providing any top-up of shares of Ambuja and ACC or cash top up under the acquisition financing raised last year,” the Adani group said in a statement.