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Exclusive: Adani Group lost $ 7 billion in shares, the company’s top executive clarified

New Delhi:

from Monday in the stock market Adani Group Trouble remains for the shares of Adani Group Stock Value. On Monday, it was reported that the National Security Depository Limited (NSD) has acquired three foreign investors of the group – Albula Investment Fund, Cresta Fund and APMS Investment Fund. freeze the account After which the shares of the company started falling and the shares of the group’s flagship company Adani Enterprises fell by 25 percent, while the shares of all the group companies got lower circuit.

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However, NSDL later clarified to the group that the accounts of the shareholders of the company are active, and action has been taken in another case. The Adani Group had also issued a statement on this and criticized the media reports. The company had told that the accounts of investors are active, but even after this, there is not much improvement in the shares of Adani Group. Even today, there is a lower circuit in the shares of Adani Gas, Adani Transmission and Adani Power.

Now questions are being raised about the structure of the Adani Group, what kind of investors it has and how much transparency is there in investing. NDTV spoke to the company’s Chief Financial Officer Jugeshinder Singh regarding this.

Key points of discussion with him-

  • Singh told that the action that was taken was taken in a case of 2016. After the news came, the company sought clarification from the investors on this and it came to know that there is no account freeze.
  • He told that the work of KYC of investors is not of the company, it is of the regulator. He told that for transparency, the company sees the transparency certificate.
  • He said that the company’s disclosure documents are no different. Their quality is also the same as that of other companies listed on the stock exchange.
  • On the shareholding of investors, he told that this company was a one-time investor and had invested before 2010. Later, many companies in the group were formed separately, this was a vertical demerge, so their shareholding remained in the new companies.
  • On the non-compliance of SEBI rules by the investors, he said that this question should be asked to the regulator and the investors, it is beyond their right. Both are dealing with each other. He said that for us ‘Transparency, disclosure and timely reporting is very important, we promote it.’
  • Regarding the companies of Adani Group, he said that these companies are 2 to 3 years old company and it will continue to grow even after 5 to 7 years. He said that ‘we are young company and growing fast.’ He said that the company’s shares are rising. The CFO said that the company is a utility platform, but there is no utility index in India yet. He said that the company wants to maintain a diversified register and is working for it.
  • Regarding city gas, he said that it is very important for him as it is a business-to-customer type of business. Since it is spreading in tier two and tier three cities as well, the focus of the company is on it.

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