Adani Energy Solutions, part of the embattled Adani conglomerate, received a show-cause notice from SEBI this week. The notice alleges wrongful categorization of investors under minimum shareholding norms, adding to the ongoing scrutiny faced by the group following Hindenburg’s allegations. The news has further impacted Adani Energy Solutions’ share price, which has declined for the fifth consecutive day.
A doctor in Mumbai has reported losing over ₹7 lakhs in a share market scam that allegedly used a deepfake video of Mukesh Ambani on Instagram to lure victims. The police have registered a case under relevant sections of the IPC and IT Act.
Anil Ambani’s Reliance Power has made a remarkable turnaround, becoming debt-free on a standalone basis. After settling debts with banks such as ICICI, Axis, and DBS, the company has erased its financial burden of approximately Rs 800 crore. This has boosted the company’s shares, which were trading at a low of Rs 1.13 in 2020 and have now rebounded to over Rs 26.15. With an equity base of Rs 4016 crore and an operating capacity of 5900 MW, Reliance Power is once again attracting the attention of investors.
Go Digit General Insurance IPO, backed by Virat Kohli, opened for subscription on May 15th and will close on May 17th. The issue size is ₹ 2,614.65 crore, including a fresh issue of 4.14 crore shares worth ₹ 1,125 crore and an offer for sale of 5.48 crore shares worth ₹ 1,489.65 crore. Here are key points to consider before investing:
