Adani Enterprises Limited FPO Message Board (Page 20)

Adani response summary last page 5
issued to him by the judge because he failed to appear before the court despite summons and
was not complying with the judicial process.
V. OUR COMMITMENT TO HIGHEST LEVELS OF COMPLIANCE AND CONTINUED GROWTH
We reaffirm that we are in compliance with all applicable laws and regulations. We are committed
to the highest levels of governance to protect the interests of all our stakeholders.
The Adani Portfolio also has very strong internal controls and audit controls. All the listed
companies of Adani Portfolio have a robust governance framework. The Audit Committee of each
of the listed companies is composed of 100% of Independent Directors and chaired by Independent
Director. The Statutory Auditors are appointed only upon recommendation by the Audit Committee
to the Board of Directors. Adani Portfolio company’s follow a stated policy of having global big 6 or
regional leaders as Statutory Auditors.
The focus of the Adani portfolio and the Adani verticals is to contribute to nation building and take
India to the world.
We will exercise our rights to pursue remedies to safeguard our stakeholders before all appropriate
authorities and we reserve our rights to respond further to any of the allegations or contents of the
Hindenburg report or to supplement this statement.

Abhi maja aayega na bhidu

Adani be like chalo mota bhai aavjo
fari malie have sidha court ma

Dear forum member If we apply in adani enterprice fpo in union bank of india internet banking with lot size of 60 share why full amount of +98280 blocked by bank why discount is not applicable for retail applicant please give me your valuable answer

check with bank. looks a mistake

Some people are so good at articulating words.
Both parties want to make money.
All of us wants to make money.

If someone of us has honestly done some research with common sense, we all know who is telling the truth and who is lying.

Share price may go up, may come down again.
We may make money or we may loose.
But remember, short term downfalls are sometimes necessary for longterm stability and growth.
For that always support what is really right according to you

Itne asani se jhukega nhi Gujrati 🔥

जो हुआ वह अच्छा हुआ, जो होगा वह भी अच्छा ही होगा.... कल का दिन बड़ा ही रोमांचक होगा। 9 बजकर 7 मिनट का स्कोरबोर्ड महत्वपूर्ण है।

Adani response summary page 2
The truth of the matter is that Hindenburg is an unethical short seller. A short seller in the securities
market books gain from the subsequent reduction in prices of shares. Hindenburg took “short
positions” and then, to effect a downward spiral of share price and make a wrongful gain,
Hindenburg published a document to manipulate and depress the price of stock, and create a false
market. The allegations and insinuations, which were presented as fact, spread like fire, wiping off
a large amount of investor wealth and netting a profit for Hindenburg. The net result is that public
investors lose and Hindenburg makes a windfall gain.
Thus, the report is neither “independent” nor “objective” nor “well researched”.
The report claims to have undertaken a “2-year investigation” and “uncover evidence”, but
comprises of nothing other than selective and incomplete extracts of disclosed information which
has been in the public domain for years if not decades, attempts to highlight allegations which have
since been judicially determined to be false, narrates as fact what is attributed to hearsay, rumours
and gossip spread by unnamed sources such as “a former trader” or “touts” of a “close
relationship”, questions the independence of the judicial processes and regulators in the nation,
and selectively extracts statements devoid of their context and with no understanding of Indian
law or industry practice. It is telling that not one of the allegations is a result of any independent
or journalistic fact finding. The allegations and innuendoes made in the Hindenburg report are
knowingly false.
Hindenburg’s conduct is nothing short of a calculated securities fraud under applicable law.
III. THE SHOE IS ON THE OTHER FOOT – HINDENBURG’S ACTIVE CONCEALMENT
Ironically for an organization that seeks transparency and openness, nothing much is known about
either Hindenburg or its employees or its investors. Its website alleges that the organisation has an
experience that “spans decades” and yet appears to have been set up only in 2017.
Despite all its talks of “transparency”, Hindenburg has actively concealed the details of its short
positions, the source of its own funding, who is behind them, the illegality underlying the synthetic
structures by which they hold such positions, or the profit it has made by holding such positions in
our securities.
IV. OUR RESPONSE TO THE ALLEGATIONS
Not one of these 88 questions is based on independent or journalistic fact finding. They are
simply selective regurgitations of public disclosures or rhetorical innuendos colouring rumours
as fact.
The report seeks answers to “88 questions” – 65 of these relate to matters that have been duly
disclosed by Adani Portfolio companies in their annual reports available on their websites, offering
memorandums, financial statements and stock exchange disclosures from time to time. Of the
balance 23 questions, 18 relate to public shareholders and third parties (and not the Adani
portfolio companies), while the balance 5 are baseless allegations based on imaginary fact
patterns.
Nonetheless, we have responded to all these questions, summarized below:

Thanks Arun for the information, tomorrow might be the most interesting day in the near term history of share market.. i expect my portfolio full of banks capital goods share to rise at an average of 3 % if not more

@monster bro @ Arun ji and @asoke sarkar , whats your take on acc ambuja cements and adani ports

Adani port running at 21 pe against average of indu. Avg. 18

And ambuja and acc available at a price where they were before the entry of adani group

I am a long term investor in Adani ports. I'm still in green. I added with each big drop. Seeing international bonds lost only 5 to 7 percent, I feel comfortable adding more of those. I booked profit in Wilmar and Power long time back. I never had any other group company because of exuberant valuations. Even Adani group sinks Ports are fundamental to economy and we will see new owners anyway because it's profit making.

You can buy ambuja and Acc in sip...
Although still expensive over ultratech...
But the strategic aquisition and material demand within the adani group can support revenues in long-run.

Ultratech 32
Ambuja 42
Acc 41

Best way to stay safe..is buy all three in a basket.
Real estate is a bit cold due to interest rates. Only a pump and dump can raise prices.

kal adani group ke sabhi shares me tejji rahegi

Setting ho gaya hai woh bhi zordar vala
Jisko bhi paissa banana hai woh kal trading kare for short term paissa banega

@Kappo
lag gai.. again adani in red.

Ha...ha....ha... don't get trapped by short term bounce. In long, adani is short. Good for speculator but not for investors.

Posted 5 pages one by one of Adani response from pdf copy and paste. Please see post by me

Adani response summary page 4
4. False suggestions based on malicious misrepresentation of the governance practices in
Adani portfolio : Allegation no. 34, 62, 63, 64, 65, 66, 67, 68, 69, 70, and 71 use selective
information to make insinuations, when in fact, the Adani portfolio has instituted various
corporate governance policies and committees including our Corporate Responsibility
Committee consisting solely of independent directors tasked with keeping the Board of
Directors informed about the ESG performance of businesses. Our ESG approach is based on
well-thought out goals, commitments and targets which are independently verified through
an assurance process.
An example of where the report exposes its motives is the question around “convoluted
structures” and multiplicity of subsidiaries, while failing to comprehend that in the
infrastructure business, especially in a sprawling geography like India, most large corporates
operate in a similar fashion because projects are housed in separate SPVs and these need to
be ring fenced from a lender perspective for limited recourse project finance and in many
cases on account of specific regulatory requirements. As an example, transmission projects
in India are awarded under tariff based competitive bidding, in such bidding the successful
bidder has to acquire the SPV which is undertaking the project. Hence, it is a regulatory
requirement as part of the Electricity Act, 2003 and the regulations of the Central Electricity
Regulatory Commission to execute projects in different SPVs
5. Manipulated narrative around unrelated third party entities: Allegation no. 5, 6, 7, 8, 10,
11, 12, 13, 14, 16, 17, 18, 20, 21, 22, 23, 26 and 52 from the report seek information on our
public shareholders. Shares of listed companies on Indian stock exchanges are traded on a
regular basis. The listed entity does not have control over who buys / sells / owns the publicly
traded shares in the company. A listed company does not have nor is it required to have
information on its public shareholders and investors.
Hindenburg deliberately ignores Indian legal processes and regulations in their insinuations
against us. For instance, they have raised several questions around the offer for sale
undertaken by Adani Green Energy Limited in 2019 while maliciously ignoring the fact that in
India the process for OFS is a regulated process implemented through an automated order
book matching process on the platform of the stock exchange. This is not a process which is
controlled by any entity and the purchasers are not visible to anyone of the platform.
6. Biased and unsubstantiated rhetoric: Allegation no. 84, 85, 86, 87, and 88 from the report
are inherently biased statements around our openness to address criticism with a windowdressing to garb them as questions. Criticism does not include the right to make false and
defamatory statement which could damage the interests of our stakeholders. We continue to
have the right to seek judicial remedy before Indian courts when such interests are
threatened, and in all cases, we have exercised these rights in due compliance with law and
the judicial process.
Hindenburg has sought to spotlight selective media reporting while deliberately ignoring
judicial findings. For instance, in another twisting of facts, Hindenburg questions why we
sought to have a “critical journalist” jailed. The fact of the matter is that he was never jailed
in connection with any proceedings related to us and in fact, a non-bailable warrant had been

Adani response summary page 3
The truth of the matter is that Hindenburg is an unethical short seller. A short seller in the securities
market books gain from the subsequent reduction in prices of shares. Hindenburg took “short
positions” and then, to effect a downward spiral of share price and make a wrongful gain,
Hindenburg published a document to manipulate and depress the price of stock, and create a false
market. The allegations and insinuations, which were presented as fact, spread like fire, wiping off
a large amount of investor wealth and netting a profit for Hindenburg. The net result is that public
investors lose and Hindenburg makes a windfall gain.
Thus, the report is neither “independent” nor “objective” nor “well researched”.
The report claims to have undertaken a “2-year investigation” and “uncover evidence”, but
comprises of nothing other than selective and incomplete extracts of disclosed information which
has been in the public domain for years if not decades, attempts to highlight allegations which have
since been judicially determined to be false, narrates as fact what is attributed to hearsay, rumours
and gossip spread by unnamed sources such as “a former trader” or “touts” of a “close
relationship”, questions the independence of the judicial processes and regulators in the nation,
and selectively extracts statements devoid of their context and with no understanding of Indian
law or industry practice. It is telling that not one of the allegations is a result of any independent
or journalistic fact finding. The allegations and innuendoes made in the Hindenburg report are
knowingly false.
Hindenburg’s conduct is nothing short of a calculated securities fraud under applicable law.
III. THE SHOE IS ON THE OTHER FOOT – HINDENBURG’S ACTIVE CONCEALMENT
Ironically for an organization that seeks transparency and openness, nothing much is known about
either Hindenburg or its employees or its investors. Its website alleges that the organisation has an
experience that “spans decades” and yet appears to have been set up only in 2017.
Despite all its talks of “transparency”, Hindenburg has actively concealed the details of its short
positions, the source of its own funding, who is behind them, the illegality underlying the synthetic
structures by which they hold such positions, or the profit it has made by holding such positions in
our securities.
IV. OUR RESPONSE TO THE ALLEGATIONS
Not one of these 88 questions is based on independent or journalistic fact finding. They are
simply selective regurgitations of public disclosures or rhetorical innuendos colouring rumours
as fact.
The report seeks answers to “88 questions” – 65 of these relate to matters that have been duly
disclosed by Adani Portfolio companies in their annual reports available on their websites, offering
memorandums, financial statements and stock exchange disclosures from time to time. Of the
balance 23 questions, 18 relate to public shareholders and third parties (and not the Adani
portfolio companies), while the balance 5 are baseless allegations based on imaginary fact
patterns.
Nonetheless, we have responded to all these questions, summarized below:

Some sources said there will be upper circuit in adani shares in preopen. Tomorrow all bank shares also in green .

👍

Tomorrow rupee is going to down too much, let's see.

Next 2 days of trading is very important. If it's able to hold within 10% of present value, there is no worry.

https://acrobat.adobe.com/link/track?uri=urn:aaid:scds:US:dd76017d-83c9-3f4e-a39c-61c8dab1e61d#pageNum=1

Response by Adani group..413 pages.

Je baat!! 🎉🎉

Kal 🐻 ka kya haal hoga…
US and uska propaganda ek side
Apna Gujju Bhai Adani ek side…

Chun chun ke kal bears pele jayenge…
Those who have doubts, check 413 pages response. Those who trust Indian growth story can keep supporting Adani (FPO me apply karo na karo alag baat but atleast reponse dene ka mauka to do)…

It now appears that sufficient funds have been arranged for this FPO to sail through, seeing the confident stand taken up by the management. However, investors are going to be wary for a long time. May still come down after a few days.

In an interview with PTI, CFO of Adani Group Jugshinder Singh replied when asked why would an investor subscribe for the FPO when the same share is available in the open market at a lower price, Singh said AEL has
a very limited free float and sowhile retail investors looking for 50-100 shares can buy from the market, a strategic institutional investor would not find the chunk of shares they need.

"For an institutional investor who likes larger chunky holding, that option is not available as the free
float is not there," he said. "One of the primary aims of the FPO is to increase liquidity of shares and increase the free float."

दोपहर में सूरज इतना तेज था और उसे इतना गुरूर था कि मैं उसके सामने एक पल भी ना देख पाया पर शाम को डूबते हुए सूरज को जब मैंने देखा तो मुझे लगा कि दुनिया में अच्छे अच्छे लोगों का गुरूर एक ना एक दिन डूब ही जाया करता है और ताश के पत्तों पर बने माल तो तुरंत ही टूट जाया करते हैं

Those who are thinking to apply in this FPO, They should purchase from the market at a good discount, if the FPO successful they will earn handsome profit