Adani Group shares under pressure after fund raising announcement, stock fell up to 5%

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New Delhi: As soon as the stock market opened on Monday, there was a decline in the shares of Adani Group. The sale comes at a time when Adani Group has announced raising Rs 21,000 crore from qualified institutional buyers (QIBs) through stake sale.

Adani Group shares fell up to 5 percent

Today, almost all the shares of Adani Group are trading with a fall of up to 5 per cent. Till 11 am, Adani Total Gas was down the most by 4.86 per cent and Adani Transmission was down 4.50 per cent.

Apart from this, Adani Enterprises 3.23 percent, Adani Power 2.80 percent, Adani Green 2.20 percent, NDTV 1.41 percent, Adani Wilmar 1.02 percent, Adani Port 0.94 percent and Ambuja Cement were trading down 0.74 percent.

Adani Group will raise a fund of Rs 21000 crore

Adani Group said on Saturday that it would raise Rs 21,000 crore ($2.5 billion) by selling stake. Of this, Rs 12,500 crore will be raised by Adani Enterprises Limited, the flagship company of the group, while Rs 8,500 crore will be raised by Adani Transmission.

This is the first time that the Hindenburg report has come to the fore when the Adani Group is raising funds for its projects. Let us tell you that in late January, American short seller firm Hindenburg presented a report on Adani Group, which said that the group’s accounts have been manipulated and share prices have been kept high. Adani Group has denied all these allegations and termed them as fabricated and said that these allegations have been made to tarnish the image of the group.