Adani Enterprises (AEL) called off its ₹20,000-crore follow-on public offering (FPO) late on Wednesday, citing sustained market volatility and the interest of investors. There's trouble brewing in the bond market as well. Bonds of firms related to Gautam Adani's flagship AEL have come under pressure after the FPO was withdrawn.
According to reports, Citigroup's wealth unit has stopped extending margin loans to its clients against securities of Adani companies. Earlier, Switzerland-based investment bank Credit Suisse stopped accepting bonds of Adani Group as collateral for margin loans to its private banking clients. Its private banking arm has assigned a zero lending value for notes sold by Adani Ports and Special Economic Zone, Adani Green Energy and Adani Electricity Mumbai.
The Reserve Bank of India (RBI) has sought details from banks about the exposure to Adani companies amid the sustained fall in the shares of group firms and the withdrawal of the follow-on public offer of ₹20,000 crore.
Bu hikaye Financial Express Mumbai dergisinin February 03, 2023 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin February 03, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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