Gautam Adani, Chairman, Adani Enterprises Ltd referred to the volatility in the stock over the last week and said the interest of the investors is paramount and to insulate them from any potential financial losses, the Board has decided not to go ahead with the FPO.
Gautam Adami dropped to 7th position on the Forbes Billionaires list as his net worth fell by over $22 billion following the Hindenburg Research report
Adani reportedly pledged Rs 60,000 crores (USD 7.7 billion) when he turned 60 in June of this year. The funds will be used toward healthcare, education, and skill development through the Adani Foundation, which was established in 1996.