Adani Group companies fell sharply as the shares of Gautam Adani firms plunged as much as 8 per cent during the afternoon amid the heavy selloff in the broader markets.
All the 10 companies of Gautam Adani’s conglomerate were trading in red during the second half of the trading session. As of 2.20 pm on Tuesday, Adani Group firms’ cumulative markets cap plunged about 66,500 crore, with all
Adani Enterprises, the flagship firm of the Adani Group, tanked 8 per cent to Rs 3,554.30 during the trading session wiping out about more than Rs 27,800 crore from investors kitty.
Adani Total Gas tumbled 4 per cent each to Rs 3490.70 as marketcap was reduced more than 11,300 crore. Adani Ports and Special Economic Zone lost about Rs 6,000 crore of mcap after a 4 per cent fall to Rs 782.
Among other Adani companies, Adani Green Energy, Adani Transmission and Adani Power lost 3-4 per cent each and their investors lost about Rs 5,000 crore each.
The latest debutant of Adani Group, Adani Wilmar retreated 4 per cent as its marketcap was reduced by more than Rs 2,500 crore.
Recently acquired cement players, Ambuja Cement and ACC were also down 3 per cent each, whereas its media acquisition, New Delhi Television (NDTV) was down 4 per cent.
Adani Enterprises is likely to launch a mega FPO amounting to Rs 20,000 crore which is likely to find some big investors like Gulf sovereign wealth funds and strategic equity partner International Holding Company (IHC), suggest media reports.
The reports said that the FPO will lead to a marginal 3.5 per cent dilution for the promoters and the company may file the red herring prospectus (RHP) later this month.
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