On Monday morning, shares of Adani Group companies witnessed a massive drop. This happened amid reports that the National Securities Depository Ltd (NSDL) has frozen certain FPIs accounts with holdings in some of these firms.?
According to a PTI report,?Adani Enterprises fell 24.99 per cent to Rs 1,201.10, Adani Ports and Special Economic Zone dipped 18.75 per cent to Rs 681.50 on the BSE.
Reports suggest that Adani's accounts have been frozen due to insufficient disclosure of information related to the beneficial ownership of the accounts.?
APMS Investment Fund, Albula Investment Fund and Cresta Fund, the three FPIs, are all registered in Port Louis, Mauritius, with Albula and APMS sharing the exact same address as well.??
Ever since the news has surfaced, Twitter was flooded with memes and jokes on the same.
Here are some of the best ones that will make you laugh.
A foreign portfolio investment (FPI) is a grouping of assets such as stocks, bonds, and cash equivalents. Portfolio investments are held directly by an investor or managed by financial professionals.