NEWS DESK- In a rare video message this morning, the Adani Group Chairman Gautam Adani explained to shareholders why the Rs 20,000 Crore FPO was withdrawn. “Considering the volatility of the market seen yesterday, our board strongly felt that it wouldn’t have been morally correct to proceed with FPO. For me, the interest of my investors is paramount and everything is secondary.” Adani said.
— Adani Group (@AdaniOnline) February 2, 2023
Justifying the decision of going ahead with the FPO as ‘morally incorrect,’ Gautam Adani has also added, “This decision will not have any impact on our existing operations and future plans. We will continue to focus on timely execution and delivery of projects. The fundamentals of our company are very strong and balance sheets healthy.”
Gautam Adani also said that, in his humble journey of over 4 decades as an entrepreneur, he has received overwhelming support from all stakeholders, especially the investor community. He also said that whatever his achievement in life was, was because of the faith and trust of the investors.