Mumbai: National Securities Depository Ltd (NSDL) has clarified that only ABUL investment GDR accounts, APMS investment and Cresta Fund – three foreign portfolio investors who have bets in the adani group company – have been frozen.
After clarification, the stock of the Adani Group surged by 4 percent on Wednesday.
According to the latest updates on the NSDL website, GDR (GLOBAL deposit receipt) on Abula investment, investment APMS and Cresta is one of the 9,425 forzen accounts.
On June 14, the shares of the Group Company are nosed to 25 percent after reporting that some of the six Mauritius-based funds that have invested most of their money in the group company have been frozen by NSDL.
On the same day, NSDL has clarified that freezing Albula accounts, Cresta, and APMS were not related to the Adani Group but for the case of June 2016 regarding GDR investment and that these three accounts were frozen on orders Sebi.
Adani Group said that the three accounts did not freeze and each report stating the opposite was “blatant and misleading”.
Confusion arose because the NSDL website continued to show three FPIs on the ‘Frozen Account’ list along with 9,444 other entities on May 31.
Now, the NSDL has marked three accounts as ‘GDR’ in the ‘GDR’ list.
On July 19, the State Minister for Finance Pankaj Chaudhary told Lok Sabha that Sebi and the Intelligence Directorate Income investigated Adani Group companies to accuse non-compliance with the rules.
The Minister also said that the account of three of the six funds based on Mauritius – Abula investment, investment APMS and Cresta Fund – frozen in 2016 for GDR issuance by certain registered companies.
There is no freezing ordered for their detention in other companies, the Minister has clarified.
On Wednesday, Adani’s transmission shares collected 3.96 percent, Adani’s green energy rose 3.94 percent and the strength of Adani rose 2.11 percent in BSE.
Total stock of gas Adani jumped 0.76 percent, Port Adani and special economic zones rose 0.29 percent and serving companies rose 0.24 percent.
NSDL clarified on three FPI accounts in the adani group company
