The Securities and Exchange Board of India (SEBI) is looking into whether the Adani Group violated rules mandating the disclosure of market-moving information, Bloomberg reported citing sources.
Coming as an aftermath of the bribery charges by the US Securities and Exchange Commission (SEC), and a US District Court, the Adani Group stocks lost Rs 2.3 lakh crore in market capitalisation on Thursday.
The party's reaction came after US prosecutors charged Gautam Adani and others in an alleged bribery scam.
Gautam Adani, head of India's Adani Group, his nephew Sagar Adani and six others face charges in the United States in a multibillion-dollar bribery and fraud scheme.
Gautam Adani, Chairman of the Adani Group, on Wednesday announced that the Group commits a $10 billion investment in US energy security and infrastructure projects, aiming to create up to 15,000 local jobs in the country.
Despite the reports, Adani Group’s market capitalisation gained over Rs 11,000 crore on Wednesday, taking its total market capitalisation to $200 billion (more than Rs 16.9 lakh crore).
Last month, it infused Rs 6,661 crore into the cement company raising their stake in the company by 3.6 to 66.7 per cent.
AGEL currently has an operating portfolio of 10,934 megawatts, and is targeting 45 GW of renewable energy capacity by 2030.
For the first time since the Hindenburg crisis, the Adani Group met with investors in Singapore, marketing an overseas bond to bolster investor confidence around its businesses before fresh bond sales.
According to sources, the Adani Group is likely to explore partnerships with major Indian vehicle manufacturers to further build the fleet in the key sunrise sector.
