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New Delhi, May 1 After infusing money for two straight months, foreign investors turned net sellers in April with the dumping of Indian equities worth ₹8,700 crore on concerns over a tweak in India's tax treaty with Mauritius and a sustained rise in US bond yields. FPIs withdraw ₹ 8,600 cr from equities in April on Mauritius tax treaty, US …

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Indian regulator probes Adani’s links to investors

SEBI is investigating relationships between Adani and at least two Mauritius-based firms that were anchor investors. India’s market regulator is investigating Adani Group’s links to some of the investors in the conglomerate’s aborted $2.5bn share sale, two sources said, amid growing concern in New Delhi about a United States-based short-seller’s allegations against one of the country’s top industrial groups. The …

A short seller’s allegations of fraud by Gautam Adani’s conglomerate center on whether his family wielded influence over Mauritius-based investors One of the large shareholders of Adani Power, the energy firm at the core of Indian billionaire Gautam Adani’s business empire, is an offshore company called Opal Investment Pvt. Corporate filings reviewed by The Wall Street Journal show that Opal …

Mumbai: The initial public offer of Tamilnad Mercantile Bank received 83% subscription on the first day of opening on Monday. In its 16-page order, which became public on Thursday, SAT gave three grounds to dismiss the appeals filed by the investors of Tamilnad Mercantile Bank. Two: An exemption from filing a fresh draft red herring prospectus does not infringe on …

Barred or not? Adani investors fret over 3 Mauritius funds

Confusion over three Mauritius-based funds that whipsawed shares of companies controlled by Indian billionaire Gautam Adani this week has underscored a deeper risk for investors in such stocks owned by opaque entities. Shares of Adani’s firms nosedived Monday after a local media report said accounts of these funds — owning about $6 billion of shares across the conglomerate — were …