43500 crore setback to Adani Group, SEBI is investigating the skyrocketing price of shares

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NSDL has frozen the accounts of 3 foreign investors who hold shares of Adani Group of Companies worth 43500 crores.

These three funds have made substantial investments in four companies of the Adani Group.

Gautam Adani has suffered a setback of 43500 crores from the National Securities Depository Limited (NSDL). Actually NSDL has frozen the accounts of three foreign funds. He has shares of Adani Group of Companies worth 43500 crores. NSDL has frozen the accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund.

According to the report published in the Economic Times, this action has been taken before May 31. After the freeze action, these three funds will neither be able to sell their existing shares nor will they be able to buy new shares. It is believed that this action has been taken under PMLA. These three funds have not shared specific information about themselves. Custodian banks first give warnings to their customers in such cases. Despite warnings, if the client ignores the rules, then his accounts are frozen.

One address of three companies, nobody owns their website

Explain that all three funds are Mauritius based and are also registered with SEBI. According to the report, the address for all three companies is the same. The name of the city of Port Louis is recorded in the address, which is the capital of Mauritius. Apart from this, there is no website of these three companies. Let us tell you that Mauritius remains ahead in terms of FDI. In the financial year 2020-21, the total FDI coming from Mauritius was $ 5.64 billion. At present, no statement has been issued by Adani Group regarding this news.

Have invested in these four companies

These three funds have made substantial investments in four companies of the Adani Group. All three of them together hold 6.82 per cent stake in Adani Enterprises, 8.03 per cent stake in Adani Transmission, 5.92 per cent stake in Adani Total Gas and 3.58 per cent stake in Adani Green. Six companies of the Adani Group are listed in the market. These six companies are – Adani Enterprises, Adani Port & SEZ, Adani Transmission, Adani Power, Adani Total Gas and Adani Green Energy. Adani Group’s market cap was Rs 9.5 lakh crore last week and they are currently the 14th richest person in the world and second in India.

SEBI probing share price manipulation

It has also been said in the report that SEBI is also investigating the matter whether the shares of Adani Group are being manipulated. This investigation started last year and is continuing till date. Six companies of the Adani Group have given returns ranging from 200-100% in the last one year. Adani Transmission has gained 669%, Adani Total Gas 349%, Adani Enterprises 972%, Adani Green Gas 254 percent, Adani Port 147 percent and Adani Power 295 percent.

There is also a question on the stake of the promoters

Promoters’ stake in Adani Group of Companies has also been a topic of discussion in the market. Promoter’s stake in Adani Enterprises is 74.92 percent, Promoter’s stake in Adai Green Energy is 56.29 percent, Promoter’s stake in Adani Transmission is 74.92 percent and Promoter’s stake in Adani Total Gas is 74.80 percent. According to SEBI rules, the promoter’s stake can be up to 75 per cent for any listed company. In such a situation, the promoters’ stake in Adani Group of Companies is very close to the limit.

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Bhagyashree Soni
Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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