Sebi not aware of investors investing in Adani Enterprises FPO

Sebi not aware of investors investing in Adani Enterprises FPO

Adani Enterprises FPO: The stock market regulator SEBI said that it does not have information about who had invested in the FPO of Adani Enterprises, the flagship company of Adani Group. SEBI has given this information in response to the question filed under RTI. In the RTI, SEBI was asked to give details of the investors investing in the FPO of Adani Enterprises and the amount invested by them. Along with this, the reason for canceling the FPO was also asked from SEBI.

The group had announced the withdrawal of the FPO of Adani Enterprises on February 1, 2023, after the Hindenburg Research Report’s report came out against the Adani group. On 27 January 2023, Adani Enterprises issued an FPO to raise 20 thousand crores, which was open for investment till 1 February 2023. But the Adani Group withdrew the FPO after the shares of Adani Enterprises fell below the price band of the FPO.

According to the Business Standard report, Prasanjit Bose Standard Person had filed two RTIs with SEBI on January 31 and February 8. Bose had filed an appeal with the Appellate Authority in which he said that the Chief Public Information Officer (CPIO) refused to give the information sought through RTI. In response to this, the Respondent said on the information sought by RTI that the information sought is not available with SEBI.

Dismissing the appeal, the Appellate Authority held that the information sought does not form part of public record, and where such information is not required to be maintained under any law or rules or regulations of a public authority, the public The Authority is not bound to collect or collate such information and then make it available to the applicant.

A separate RTI application was filed regarding SEBI’s investigation on the revelations made by the Hindenburg Research Report. In which information was sought whether the regulator had received any complaint against the Adani group regarding manipulation of share prices, round-tripping, accounting fraud and money laundering. It was also rejected on the same grounds. It was submitted that this amounts to seeking clarification or opinion and cannot be treated as information. SEBI said that information about exposure of public sector banks and financial institutions to Adani group companies is not available with SEBI even under regulation.

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