RBI Asks Indian Banks For Details Of Exposure To Adani Group: Report

New Delhi: The Reserve Bank of India (RBI) has asked local banks for details of their exposure to the Adani Group of companies, Reuters reported quoting government and banking sources on Thursday.

The country’s central bank is yet to issue an official statement.

Shares of Adani Group companies continued the downward trend on Thursday, after the flagship company Adani Enterprises announced on Wednesday night the withdrawal of Rs 20,000 crore fully-subsidised FPO issue.

Adani Enterprises stocks plunged a further 8% to Rs 1956, two hours after trading started this morning.

Gautam Adani, chairman of Adani Enterprises, released a video message on Thursday explaining why they have called off the FPO issue.

‘Ambuja Cement and ACC Shares Not Pledged By Promoters’

Adani Group also released a statement clarifying that shares of neither Ambuja nor ACC have been pledged by promoters.

“We have come across reports from various market sources with respect to Ambuja and our subsidiary ACC Ltd (ACC) claiming that shares of both Ambuja and ACC are pledged by Promoters as a part of the acquisition financing. Consequently, there are market rumours that amid market volatility, there is a requirement to meet the top-up triggers where in there is selling pressure.

“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,” stated Adani Group.

Get real time updates directly on you device, subscribe now.

Comments are closed.