Adani denies report of NSDL freezing 3 FPI accounts
Jun 14, 2021
Ahmedabad (Gujarat) [India], June 14 : Adani Ports and Special Economic Zone (APSEZ) Monday denied reports suggesting the National Securities Depository Ltd (NSDL) has frozen accounts of three foreign funds holding shares in Adani Group companies.
"We regret to mention that these reports are blatantly erroneous and is done to deliberately mislead the investing community," said Company Secretary Kamlesh Bhagia.
"This is causing irreparable loss of economic value to the investors at large and reputation of the group," he said in a statement.
"Given the seriousness of the article and its consequential adverse impact on minority investors, we requested Registrar and Transfer Agent, with respect to the status of the Demat Account of the aforesaid funds and have their written confirmation vide its e-mail dated 14th June, 2021, clarifying that the demat account in which the aforesaid funds hold the shares of the company are not frozen."
Bhagia said the clarification is being issued in the larger public interest and for the protection of minority investors' interest.
Reports said accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund, which together own over Rs 43,500 crore worth of shares in four Adani Group companies, were frozen on or before May 31.
But stocks of Adani Enterprises, Adani Ports, Adani Transmission, Adani Power, Adani Green Energy and Adani Total Gas tumbled rapidly throughout the day.
Most of them had recently touched record high levels after they outperformed the market by surging multi-fold over the past one year.
