$400 million comes to the rescue for Adani; will it be enough Posted on January 31, 2023 News By Akta Yadav 421 Views rescue for Adani:- Abu Dhabi conglomerate IHC on Monday issued that they will invest approx. $400 million in Adani Enterprise's FPO, as per sources. The money came at a dire time for the sinking Adani group and could be the savior heading into the future. rescue for Adani FPO or the Follow-on Public offer is a process by which a company, already listed on the National stock exchange, issues new shares for investors and promoters. It is usually done to raise fresh capital for the venture. With such a breakdown in the graphs, it was only wise for Adani and his partners to release the FPO. It is not the first time, however, that the Abu Dhabi-based IHC invested in Adani. Back in 2022, the International Holding Company, or the IHC, invested $2 billion in the Adani companies. rescue for Adani The CEO at IHC stated; "Our interest in Adani Group is driven by our confidence and belief in the fundamentals of Adani Enterprises; we see a strong potential for growth from a long-term perspective and added value to our shareholders." The goals of IHC didn't end here, as they are looking to acquire more businesses in 2023. He further said; "We are watching the international market closely for new prospects, and we will continue exploring further opportunities outside our traditional market in 2023." Adani Enterprises' INR 20,000 crore FPO can be the link to the survival or complete breakdown of the company. Let's, however, not jump to a conclusion and rule out the once-richest man in Asia. For more updates keep visiting our website www.topstoriesworld.com where we provide unbiased, true, and top stories of the world.
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rescue for Adani
FPO or the Follow-on Public offer is a process by which a company, already listed on the National stock exchange, issues new shares for investors and promoters. It is usually done to raise fresh capital for the venture. With such a breakdown in the graphs, it was only wise for Adani and his partners to release the FPO.
It is not the first time, however, that the Abu Dhabi-based IHC invested in Adani. Back in 2022, the International Holding Company, or the IHC, invested $2 billion in the Adani companies.
rescue for Adani
The CEO at IHC stated; "Our interest in Adani Group is driven by our confidence and belief in the fundamentals of Adani Enterprises; we see a strong potential for growth from a long-term perspective and added value to our shareholders." The goals of IHC didn't end here, as they are looking to acquire more businesses in 2023. He further said; "We are watching the international market closely for new prospects, and we will continue exploring further opportunities outside our traditional market in 2023."
Adani Enterprises' INR 20,000 crore FPO can be the link to the survival or complete breakdown of the company. Let's, however, not jump to a conclusion and rule out the once-richest man in Asia.
For more updates keep visiting our website www.topstoriesworld.com where we provide unbiased, true, and top stories of the world.
