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India's macro fundamentals not affected by Adani's FPO withdrawal: Finance Minister

Adani Group's stock recorded a decrease of US $108 billion after Hindenburg Research accused Adani of stock manipulation and accounting fraud in a report on January 24, 2023.

Finance Minister Nirmala Sitharaman (Image: Twitter)

Union Finance Minister Nirmala Sitharaman has responded to the Adani controversy while addressing the media after an interaction with stakeholders post-budget.

Adani Enterprises Ltd has decided to pull out a 20,000 crore (Over $2 billion) FPO amid allegations of financial wrongdoings. Sitharaman said that the company's withdrawal of FPO (Follow-on Public Offer) had no impact on the country's macroeconomic fundamentals and reputation.

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