Gautam Adani: No impact on operations despite FPO withdrawal

Gautam Adani, the CEO of the Adani Group, has reassured investors that the recent decision to withdraw the proposed follow-on public offering (FPO) will not impact the group's existing operations or future plans. In a statement, Adani emphasized the strength of the company's balance sheet and its track record of fulfilling debt obligations.

Adani stated that the company will continue to focus on creating long-term value and growth, managed by internal accruals. He added that once the market stabilizes, the company will review its capital market strategy and will continue to prioritize Environmental, Social, and Governance (ESG) principles in its business operations.

The CEO also expressed gratitude for the support from investment bankers, institutional investors, and shareholders both within and outside of India. Adani stated that he is confident that the group will continue to receive support from investors in the future.

Adani emphasized that the interests of investors are his top priority and that he withdrew the FPO to protect them from potential losses. He acknowledged the overwhelming support from all stakeholders, particularly from the investment community, during his 40-year journey as an entrepreneur. Adani credited his success to the faith and trust placed in him by investors.

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