Shares of Adani Group companies fell between 5 and 18 percent on Monday after the National Securities Depository Limited (NSDL) frozen the accounts of three foreign funds. These funds are among the top shareholders of Adani Group companies.
Shares of Adani Enterprises and Nifty 50-listed Adani Ports and Special Economic Zone fell over 15 percent.
NSDL has frozen the accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund. This information has been given on its website without giving the reason for the freeze.
According to an Economic Times report, insufficient disclosure of information related to beneficial ownership may have led to the freeze of all three accounts. According to the report, these funds have an investment of about 435 billion rupees ($ 6 billion) in Adani Group companies.
