Monday morning was not good for Gautam Adani's companies. In fact, the shares of 6 listed companies of the group have declined from 5% to 22%. Most of the shares of Adani Enterprises have broken in this. It fell 22% to Rs 1,200. It had closed at Rs 1,600 on Friday. After this, the shares of other companies also broke in the same way. Due to this, investors lost around Rs 50,000 crore in the opening hour.
On the other hand, in the afternoon, the Adani Group called this news completely misleading and wrong. In the information given to the stock exchange, the company said that there is no such case nor are the Demat accounts of foreign investors frozen. After this, the shares of Adani Green Energy closed with gains while the shares of the remaining 3 companies fell less than 5% with recovery. Adani Port closed 8.26% while Adani Enterprises closed down 6.26%.
The reason for the fall in the shares was that SEBI caught three such foreign investors in the group companies, which are believed to be bogus. These three investors are – Albula Investment Fund, Cresta Fund, and APMS Investment Fund. They are registered at the same address as Port Louis, the capital of Mauritius. They don't have a website. SEBI has frozen the investments of these three and an investigation has started.
According to the National Security Depository Limited (NSDL), the total investment of these three in Adani's companies has been Rs 43,500 crore. These accounts were frozen because SEBI does not have information about them. Also, who is the owner of this money, it is also not known. Therefore, action has been taken against them under the Money Laundering Act. Although there is no issue of Adani Group in this, it is an investment in their shares, so the shares of this group have shown a decline.
These investors hold a 6.82% stake in Adani Enterprises. Its value is Rs 12,008 crore. Adani Transmission has an 8.03% investment and is valued at Rs 14,112 crore. Adani Total Gas holds a 5.92% investment. Its value is Rs 10,578 crore. Whereas Adani Green Energy has an investment of 3.58%. Its value is Rs 6,861 crore.
Adani Group companies whose shares fell on Monday are all companies. In this, the share of Adani Green Energy has lost 5%, the share of Adani Total Gas and Adani Transmission has lost 5.5%, the share of Adani Power is 4.96% and the share of Adani Port has lost 15%. Looking at their returns in a year, Adani Enterprises has 12.18 times, Green Energy 4.5 times, Adani Total Gas 13.44 times, Adani Transmission 8.66 times, Adani Power 4.11 times, and Adani Port 3.02 times.
In fact, in the year 2019, SEBI had ordered the completion of KYC of foreign investors by 2020 to prevent money laundering. These were to be completed under the new rules. Failing this, there was a rule to freeze his Demat account. On this basis, the accounts of these three have been frozen. It is being said that SEBI has also started an investigation on price manipulation in the shares of Adani Group companies, as these companies have given a lot of profit in a year.
According to sources, SEBI had started investigating the shares of these companies in the year 2020 itself. However, no decision has been taken on the investigation so far. Despite this, the shares of these companies are increasing continuously. Among these companies, the promoters' stake in Adani Enterprises, Adani Transmission, and Adani Power is more than 74.29%.
Foreign investors hold 20.51% in Adani Enterprises, 21.47% in Adani Total Gas, 20.30% in Adani Transmission, 21.47% in Adani Green Energy, 17.90% in Adani Port, and 11.49% in Adani Power. The promoters hold the lowest stake in Adani Total Gas and Adani Green Energy at 56.29-56.29%.