Adani, 61, said despite a fully subscribed FPO, the conglomerate decided to protect investor interest by returning the money. "While we promptly issued our comprehensive rebuttal, various vested interests tried to exploit the claims made by the short seller."
Gautam Adani said Adani Enterprises continued to successfully demonstrate its incubation capabilities with new businesses accounting for 50 per cent of its Ebitda in FY23.
Adani said that the US-based short seller s report around the largest Follow-on Public Offering in Indias history was a combination of targeted misinformation and discredited allegations, the majority of them dating from 2004-2015. They were all settled by the appropriate authorities at that time.
Adani Properties will be the lead partner in the project for which a special-purpose vehicle will be formed. The bid is for the entire project, and the total timeline is seven years to rehabilitate 6.5 lakh slum dwellers who live in an area of more than 2.5 sq km, the PTI report said.